DailyPlay Updates – August 3, 2023

Trading earnings comes with binary risks and PYPL is a trade that simply did not work out as expected. In such cases, it is important to cut losses immediately and salvage any premiums possible for the next opportunity. PYPL released earnings in line with expectations but investors were not impressed with it and the stock is down nearly 7% pre-market. We will update the pricing for closing the full position after today’s open. For today, all eyes are focused on AAPL and AMZN earnings this afternoon which will likely set the tone for tech stocks and its AI lead rally for the rest of the earnings season. Additionally, markets seem to have shrugged off any concerns of systemic risk from Fitch’s downgrade yesterday so we will monitor the situation closely this week and refrain from adding any new positions today.