By Dan Darrow
October 11, 2022
Intraday Update: AFRM, GME
Two more early morning updates as indices remain weak:
- We are going to close out AFRM. The stock is sliding below 18, and the last of the swing trade has now moved marginally into the green. The Oct21 $17.50 - $15 put spread roll down will be closed into weakness today and we will watch for a new setup.
- GME won't break below 25 decisively, but it is also not bouncing. The Oct21 $25 -$20 put spread roll down is running low on time as the stock struggles to make a move, so the plan here will be to close the current spread and do a dollar-for-dollar roll out to a Nov18 $23.75 - $20 put spread. The next target will be <22.50 and we will use a 40-50% net debit loss as a stop moving forward.
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**As of the date and time of publication