By Dan Darrow

December 01, 2022

Intraday Update: AFRM, NKE

Stocks are seeing some follow-through this morning following yesterday's huge rally post-Powell speech. The large move higher has been a tailwind for many bullish positions, but it has also changed the thesis on several bearish positions. There are a couple of trades that need to be managed early on what should be another busy session:

  • AFRM's move to 14.15 is hitting the recently tightened stop, so the Dec16 $13 - $10 put spread roll down will be closed.
  • NKE is at the initial target range for the Dec30 $110 - $115 call spread, so the plan will be to lock in some money and roll up to a shorter-term, lower debit Dec23 $112-115 call spread. The next target is 112.50+.

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