Taking Profits (CCI) – November 30th, 2021

Closing Trades

• CCI – 51% Gain: Short Dec 17, 2021 170/180 Put Verticals @ $1.65 Debit

DailyPlay Positions Outlook:

Equities managed to recover yesterday after Friday’s strong decline. However, details about the new COVID variant are still fairly unknown and equities may be at significant risk in the event that the current vaccines do not provide any protection. The sharp rise in Delta cases, even before the Omicron variant discovery, already poses a threat to a year-end rally as many governments are once again considering lockdowns or partial lockdowns. This will likely have a large impact for Q4 earnings season. We take this opportunity to reduce the bullish exposure on our portfolio and take profits on CCI which has reached the target take profit level 

Prakash Vijayanath
Analyst at OptionsPlay