By Dan Darrow

November 04, 2022

Intraday Update: BKR, CAT

A couple of more early updates as the early pop on the indices fades:

  • We are going to lock in the remainder of the BKR swing trade. The stock is having a strong start to the morning, and the rally is carrying it up near the key 200day sma, which will likely be an area of near-term resistance. The Nov18 $28 - $30 call spread roll up will be closed into strength, and we can watch for a new setup to revisit a trade.
  • CAT had a big gap higher this morning, and unfortunately, the move has taken away a majority of the potential for the Dec16 $220 - $230 call spread before it could be initiated. We need to hold off opening the trade as it doesn't make sense to chase stocks in this environment.

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