DailyPlay – Closing Trade (UPS) – September 14, 2023

Closing Trade

• UPS – 65.29% Gain: Buy to Close 3 Contracts (or 100% of your Contracts) Oct 20th $165/$175 Call Vertical Spreads @ $1.18 Debit. DailyPlay Portfolio: By Closing all 3 Contracts, we will be paying $354. We initially opened these 3 Contracts on Sept 6 @ $3.64 Credit. Our average gain, therefore, is $246 per contract. 

Investment Rationale

As we wait on retail sales this morning to provide a glimpse into how consumer spending has held up into the end of summer, one position has reached its final target, UPS. This is our 3rd and final trade on UPS now that is has gapped lower and reached our downside target. If UPS were to rally back towards resistance we may enter another short in the next few weeks, but for now I think it’s time to take our profits on this trade and move onto other ideas. We’re going to close out the final remaining contracts on UPS.