DailyPlay Taking Profits (BA) – December 17th, 2021

Taking Profits

• BA – 59% Gain: Short Jan 21, 2022 $200/$225 Call Vertical @ $4.21 Debit

DailyPlay Positions Outlook

Once again we see equities struggling to breakout of their recent range with the major indices moving sharply lower despite finding some momentum earlier in the week. This provides more evidence of continued consolidation as we head into the new year but with key support area remaining intact, our overall outlook for equities is still neutral with a bullish bias. Omicron concerns continue to weigh in on markets with cases rapidly growing causing the enacting of restrictions which will likely impact global demand. As mentioned in Tuesday’s Market Outlook, the overall theme in markets currently is the rotation out of growth and into value. We take this opportunity to close out our BA bearish trade which exceeded our take profit level yesterday. 

Prakash Vijayanath

Analyst at OptionsPlay