DailyPlay – Opening Trade (DHI) – September 18, 2024
DHI Bullish Opening Trade Signal Investment Rationale...
Read MoreAfter breaking out above its $70 resistance level while outperforming the S&P 500, PYPL has now consolidated above this resistance level and offers an opportunity to add some additional exposure of 2% to seek a larger win on this trade.
Strategy: Long Call Vertical Spread
Direction: Bullish Debit Spread
Details: Buy to Open 8 PYPL Oct 18th $70/$75 Call Vertical Spreads $2.64 Debit per Contract.
Total Risk: This trade has a max risk of $2,112 (8 Contracts x $264) based on a hypothetical $100,000 portfolio risking another 2%. We suggest using 2% of your portfolio value and divide it by $264 to select the # contracts for your portfolio.
Trend Continuation Signal: This is a bullish trade on a stock that is expected to continue the bullish trend.
1M/6M Trends: Bullish/Bullish
Relative Strength: 9/10
OptionsPlay Score: 91
Stop Loss: @ $1.32 Credit (50% loss of premium)
Use the following details to enter the trade on your trading platform. Please note that whenever there is a multi-leg option strategy, it should be entered as a single trade.
PLEASE NOTE that these prices are based on Friday’s closing prices. Should the underlying move significantly during the pre-market hours, we will likely adjust the strikes and prices to reflect a more accurate trade entry.
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