DailyPlay Taking Profits (SQ) – December 15th, 2021

Taking Profits

• SQ – 59% Gain: Short Jan 21, 2022 $190/$210 Call Vertical @ $2.90 Debit

DailyPlay Positions Outlook

Equities continued lower yesterday as investor concerns about the Omicron threat escalate and uncertainty remains with the ongoing Fed meeting. However, the major indices remain within their respective range and have not broken below any support levels which would be concerning. While our overall outlook is still positive for equities, recent price action does provide some evidence of a more neutral sentiment growing. We take this opportunity to close out our bearish SQ trade which exceeded our take profit level yesterday. 

Prakash Vijayanath

Analyst at OptionsPlay