By Dan Darrow

December 19, 2022

Intraday Update: ALLY, T, SPY, QQQ

Indices are remaining under pressure, and many stocks are continuing their slides from last week:

  • ALLY was rolled down earlier, but it is now hitting the secondary target for the Jan20 $24 - $22 put spread. The trade will be booked into weakness.
  • Let's lock in some money on T. The stock is finding some initial buyers around the 50day sma, so the plan will be to close the Jan20 $20 put and roll down to a lower debit Jan20 $18 put. The next target is <17.75.
  • The SPY Feb17 $390 - $380 put spread hedge is >$5.50, so the hedge will be rolled down to a Feb17 $375 - $365 put spread.
    • The QQQ put spread hedge is not at the debit target yet, so it will remain open and unchanged for now.

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