Taking Profits (PYPL, CVS) – October 22nd, 2021

View Closing Trades

Closing Trades

• PYPL – 66% Gain: Short Nov 26, 2021 265/285 Call Verticals @ $2.45 Debit
• CVS – 8% Gain: Long Nov 19, 2021 85/92.5 Call Verticals @ $2.83 Debit

DailyPlay Positions Outlook:

Equities have staged a strong rally back to all-time highs on the S&P 500 driven by strong consumer demand and sales. It should be noted that while there is strong positive momentum, it has started to decelerate and show signs of exhaustion. Bond markets have also not shown the same level of optimism and we remain cautiously bullish as volume has declined on this rally. We are taking this opportunity to take profits on our PYPL short and reduce long exposure in our CVS position that has failed to rally higher.