DailyPlay – Closing Trade (HD) – June 20, 2024

Closing Trade

HD – 69.94% loss: Sell to Close 3 Contracts (or 100% of your Contracts) Aug 16th $325/$300 Put Vertical Spreads @ $1.99 Credit. DailyPlay Portfolio: By Closing all 3 Contracts, we will receive $597. We opened these 3 Contracts on May 4 @ $6.62 Debit. The average loss, therefore, is $463. 

Investment Rationale

On Monday, we laid out rules that if HD were to breakout above $350 it would warrant cutting losses on the trade, since we have triggered that threshold on Tuesday, we are closing this trade on the open for Thursday and continuing to monitor the remaining positions.