DailyPlay Taking Profits (DPZ) & Adjusting Trade (C) – November 12th, 2021

View Closing Trades

Closing Trades

• DPZ – 47% Gain: Short Dec 17, 2021 460/490 Put Verticals @ $5.40 Debit

Adjustment Trade

C Trade Adjustment – 53% Unrealized Loss. Roll November 19, $73 Call to December 17, $72.5 Call to collect more premium:

• Buy to close November 19 $73 Call @ $0.08 Debit
• Sell to open December 17 $72.5 Call @ $0.82 Credit
• This results in a reduced cost basis for the C Call Diagonal Trade from $3.25 to $2.51. 

DailyPlay Positions Outlook:

After a 4 week run in the S&P 500 gaining more than 1% each week, equities have started to pullback slightly after high inflation numbers were released earlier this week. While our outlook remains bullish for equities due to strong technicals and fundamentals, the pullback from overbought conditions provides an opportunity for a better entry for the major indices. We are taking this opportunity to take profits on our DPZ bullish position to avoid weekend risk as it is very close to its TP price and we are also adjusting our C trade. The rolling of the short strike for C allows for a reduced cost basis for the overall trade 

Prakash Vijayanath
Analyst at OptionsPlay