DailyPlay – Portfolio Review – May 20, 2024

DailyPlay Portfolio Review

Investment Rationale

As equities continue its grind higher, we remain positioned in our DailyPlay Portfolio for further upside. With all positions currently with an unrealized loss, we are taking this time to be patient as we are long-time decay but have plenty of time left in all of our positions. 

Our Trades

ADBE – 32 DTE

Bullish Credit Spread – ADBE traded above $480 support over the last two trading sessions, and a break higher is therefore likely.

BIDU – 60 DTE

Bullish Debit Spread – Again trading above $110 and an upside move should target $120.

GM – 32 DTE

Bullish Calls – Completed a bullish pennant and a break higher seems likely.

NKE – 32 DTE

Bullish Debit Spread – Support around $90 is holding and a move higher should ideally happen within the next few trading days, to support our bullish thesis.

PLTR – 32 DTE

Bearish Debit Spread – Trends remain bearish and resistance at $22 is still holding.

PYPL – 32 DTE

Bullish Debit Spread – With the price remaining above $63, a move higher is still possible. However, we will closely monitor this trade as increased strength is needed for a move higher.