DailyPlay Taking Profits (MS) – March 4, 2022

Taking Profits

• MS: 95% Gain: Buy to close Apr 1, 2022 $102/$109 Call Verticals @ $0.12 Debit. 

Risk appetite took a hit this morning as news relating to a nuclear power station attack dragged European Indices lower this morning. Both SPY and QQQ are showing signs of weakening momentum despite the strong bounce at the end of last week and both indices are failing to break above their 21 D EMA. We take this opportunity to close the remainder of the MS position which is just shy of max profit with 28 days to expiration. 

Please note, that half of this position was closed on Feb 25 at $0.58 Debit. Therefore, the average price of the entire position is $0.35, between the $0.58 and $0.12 closing prices.