DailyPlay – Opening Trade (PYPL) – September 3, 2024

PYPL Bullish Opening Trade Signal

Investment Rationale

After 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. 

PYPL – Daily

Trade Details

Strategy Details

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)

View PYPL Trade

Entering the Trade

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. 

View PYPL Trade