DailyPlay – Closing Trades (GOOGL, OIH) – August 5, 2024

Investment Rationale

As markets melt down over the past few trading sessions, we must close out a few trades that are at its stop loss levels which are GOOGL and OIH. 

Closing Trades

• GOOGL – 143.40% loss: Buy to Close 3 Contracts (or 100% of your Contracts) August 30th $185/$175 Put Vertical Spreads @ $8.30 Debit. 
  DailyPlay Portfolio:  By Closing all 3 Contracts, we will be paying $2,490. We initially opened these 3 Contracts on July 16 @ $3.41 Credit. Our average loss, therefore is $489 per Contract.
• OIH – 91.13% loss: Buy to Close 2 Contracts (or 100% of your Contracts) September 16th $330/$312.50 Put Vertical Spreads @ $11.85 Debit. 
  DailyPlay Portfolio:  By Closing both Contracts, we will be paying $2,370. We initially opened these 2 Contracts on June 30 @ $6.20 Credit. Our average loss, therefore is $565 per Contract.