June 8, 2022
Intraday Update: ZM, ZS
Two more early updates (both on Software positions as well):
- ZM nailed the 100day sma early this morning, but has stalled on the first test. With that moving average a key focus level for traders, it makes sense to reduce risk on the position into it. Instead of rolling up, the Jul15 $115 – $120 call spread will be closed and the remainder of the trade will be booked. We can revisit a new strategy on this once it consolidates.
- ZS is at the initial target, so it is time to lock in some money on the Jul15 $165 – $170 call spread. The plan will be to close the current spread and roll up to a lower debit Jul15 $175 – $180 call spread. The next target is 177+.
Open Positions
* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under “Trader Author Portfolio Holdings.”.
Trader Author Portfolio Holdings
**As of the date and time of publication
