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DailyPlay Taking Profits – GLD – January 7th, 2022

Taking Profits

DailyPlay Positions Outlook

Equities look set to end the first week of 2022 on a bearish tone. Both SPY and QQQ have declined to their respective key levels. Volatility has started to increase as markets price in an additional rate hike for the year with the Fed minutes indicating a more hawkish tone. We expect some volatility today due to Non-Farm Payrolls being announced and have therefore decided to close the GLD trade for a minor profit. 

Prakash Vijayanath

Analyst at OptionsPlay

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