DailyPlay Updates (UNH, CL, XBI) – April 18, 2022

 Partial Closing Trades

• UNH: 28.44% Loss: Sell to close May 20, 2022 $570/$540 Call Vertical @ $8.68 Credit. Thursday made a new high and immediately sold off hard. Given no progress in price since we’ve put this on, we’re taking off half today. As of last Thursday’s close, we were down 28% on this trade. DailyPlay Portfolio: By closing 1 contract of this trade, we will receive $868. 

Closing Trades

• CL: 171.43% Gain: Sell to close Apr 29, 2022 $78/$74 Call Vertical @ $3.80 Credit. With this stalling the past few days at a 62% retracement level up to the early-January high, we’re going to exit this trade. Based upon Friday’s mid-price close of the spread, we were up 171%. We’ll sell out today. Therefore, the average gain on this trade was 125.72% and the average cost basis to exit this trade is $3.16 credit. DailyPlay Portfolio: As we are closing 7 contracts of this trade, we will receive $2660. 

• XBI: 44.15% Loss: Sell to close Apr 22, 2022 $88.5/$95 Call Vertical @ $1.48 Credit. I don’t like the price action, and we’ll exit today before this trades much lower than the bottom strike price. As of Thursday’s close, we were down 43%. Therefore, the average loss on this trade was -15.68% and the average cost basis to exit this trade is $2.24 credit. DailyPlay Portfolio: As we are closing 4 contracts of this trade, we will receive $896.