DailyPlay – Opening Trade (DHI) – September 18, 2024
DHI Bullish Opening Trade Signal Investment Rationale...
Read MoreAs ETN trade reaches 2 weeks from expiration and has traded lower since we entered the trade, it’s time to take profits and roll our Sept $290/$310 Call Vertical down and out to the Oct $290/$310 Call Vertical for another @ $7.05 Credit.
By Rolling ETN we will Close the initial Trade and Open a new Trade with a later Expiry Date.
ETN – Daily
Strategy: Short Call Vertical Spread
Direction: Bearish Credit Spread
Details: Sell to Open 2 ETN Oct 18th $290/$310 Call Vertical Spreads $7.05 Credit per Contract.
Total Risk: This trade has a max risk of $2,590 (2 Contracts x $1,295) based on a hypothetical $100,000 portfolio risking 2%. We suggest using 2% of your portfolio value and divide it by $1,295 to select the # contracts for your portfolio.
Trend Continuation Signal: This is a bearish trade on a stock that formed a lower high in a downtrend and is likely continuing lower.
1M/6M Trends: Bearish/Bearish
Relative Strength: 3/10
OptionsPlay Score: 101
Stop Loss: @ $14.10 Debit (100% loss to the value 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 Thursday’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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