DailyPlay – Closing Trade (MMM) – October 17, 2024

Closing Trade

• MMM – 84% loss: Sell to Close 24 Contracts (or 100% of your Contracts) October 18 $135/$131 Put Vertical Spreads @ $0.20 Credit. DailyPlay Portfolio:  By Closing all 24 Contracts, we will receive $480. We initially opened these 24 Contracts on October 1 @ $1.25 Debit. Our loss on this trade, therefore, is $105 per Contract.

Investment Rationale

As we approach expiration MMM has rallied above our $135 resistance level and warrants closing out this trade just before expiration.