DailyPlay – Closing Trade (PLTR) – June 3, 2024

Closing Trade

• PLTR – 42.50% loss: Sell to Close 13 Contracts (or 100% of your Contracts) June 21st $22/$18 Put Vertical Spreads @ $0.92 Credit. DailyPlay Portfolio: By Closing all 13 Contracts, we will receive $1,196. We opened these 13 Contracts on May 1 @ $1.60 Debit. The average loss, therefore, is $68. 

Investment Rationale

With the news of PLTR signing a new significant contract with Eaton it has now held its $20 major support level and the probability of it hitting our $18 target in the next 3 weeks is slim. It is time to cut this earnings play.