DailyPlay Taking Profits (CHTR) – November 23rd, 2021

Closing Trade

CHTR – 55% Gain: Short Dec 17, 2021 $695/$730 Call Verticals @ $5.45 Debit

DailyPlay Positions Outlook:

Equities pulled back later in trading yesterday as yields jumped higher due to Jerome Powell being nominated for a 2nd term as Fed Chair, the more hawkish choice over the vice-chair nomination, Lael Brainard. While we do see some headwinds for equities approaching the year-end, especially with the surge in COVID cases in Europe, our overall outlook remains bullish. We are taking this opportunity to take profits on our short CHTR position which has reached our take profit level and is also very close to being 21 days away from expiration. 

Prakash Vijayanath
Analyst at OptionsPlay