By Dan Darrow

September 13, 2022

Intraday Update: BE, OKTA

The selling has not relented since the open, and the indices continue to slide lower after 45 minutes of action. Regarding the two trade ideas from yesterday's letter, we will hold off initiating BE until it resets above 26, and we will move forward with an OKTA bearish trade, though we need to adjust the contracts. The new OKTA trade will be:

  • Long OKTA Oct21 $60 - $55 put spread
  • The first target is <59. The stop will be a 40-50% net debit loss.

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