DailyPlay Taking Profits (MTCH) – April 20, 2022

Taking Profits

• MTCH: 108.57% Gain: Sell to close May 20, 2022 $105/$95 Put Vertical @ $6.57 Credit. As I write this after 1 AM ET early Wednesday morning, S&P futures are down ~20 points suggesting a lower open later this morning. Let’s take advantage of that weakness to exit the remaining position we have on in the Long MTCH May 20th $105/$95 put spread. (We took the first half off on April 6th when MTCH traded beneath $95, the hedge strike price,) The spread closed on Tuesday at about $6.60, and it should be worth a bit more than that if we get a lower open. The average gain on this trade was 105.87% and the average cost basis to exit this trade is $6.49 credit. DailyPlay Portfolio: By closing 3 contracts, we will be receiving $1,971.