DailyPlay – Closing Trade (ETN) – September 13, 2024

Closing Trade

• ETN- 41.21% loss: Buy to Close 2 Contracts (or 100% of your Contracts) Oct 18th $290/$310 Call Vertical Spreads @ $11.65 Debit. DailyPlay Portfolio:  By Closing both Contracts, we will pay $2,330. We initially opened these 2 Contracts on September 6 @ $8.25 Credit. Our loss, therefore, is $340 per Contract.

Investment Rationale

With equity markets pushing higher as tech continue to lead, we must consider reducing our short exposure in the markets. One trade that we rolled was ETN after taking profits on it a couple of weeks ago, however we must reduce our exposure here as the equity markets continue to trade higher.