DailyPlay – Portfolio Review – February 29, 2024

DailyPlay Portfolio Review

Investment Rationale

As we head into this morning’s PCE inflation print, we are going to hold off on add any further positions until the markets have digested the Fed’s preferred inflation number. We currently have a short GE position that we are monitoring and a SPY put that we put on yesterday as a hedge against volatility over the next couple of months.

Our Trades

C

Bullish Calls. With $55 as support, we expect to see a bounce higher, aiming at $58.

GE

Bearish Credit Spread. GE continues to be extremely overbought and we expect to see a pullback to lower levels within the next few trading days.

SPY

Bearish Puts. We opened this position to hedge our long positions in our Portfolio. A break below $500 would place this trade in a favorable position.