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DailyPlay – Closing Trade (KRE) – July 19, 2023

Closing Trade

  • KRE – 91.57% Loss: Buy to Close 8 Contracts (or 100% of your Contracts) Aug 18th $40/$44 Call Vertical Spreads @ $3.41 Debit. DailyPlay Portfolio: By Closing all 8 Contracts, we will be paying $2,728.

Current DailyPlay Positions

Investment Rationale

With earnings season in full swing, we have a number of open positions that report earnings this week and next. As we wait for those results, we must keep our eyes on positions that are not working out. Out of the 7 positions, KRE has surprised to the upside, turning positive despite an inverted yield curve and triggered our stop loss levels. As a reminder, our DailyPlay process is designed to help you instill the discipline of a profitable trader. Despite showing strong gains on a few positions, we must maintain our exposure in those winning positions, while cutting losers when they are still small. It’s tough to fight the urge to take profits on our winners and keep our losers open and hope that they “come back”. But that is the counterintuitive nature of profitable trading. So we are going to close out our entire 8 Contracts of KRE Aug $40/$44 Call Vertical @ $3.40 Debit. 

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Tony Zhang