By Dan Darrow
October 18, 2022
Intraday Update: ADBE
It was a higher-risk setup, but it has paid off. ADBE gave preliminary numbers at its investor day yesterday, which has helped the stock trade higher this morning. The move to 302+ is nailing the initial target, so the plan will be to close the current Nov18 $305 - $315 call spread and roll up to a tighter Nov18 $310 - $315 call spread. I realize this was a tougher hold because of the catalyst, but the technical setup is now improving quickly as the stock breaks above 300.
* 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