July 27, 2022
Intraday Update: CAG
CAG is down sharply this morning as many Staples fall following KHC's lackluster print, and while the stock is not at the 32.50 initial target yet, the Sep16 $34 put is up a fast 50%, and it makes sense to reduce some risk ahead of the FOMC rate decision this afternoon. The plan will be to close the current put and roll down to a Sep16 $32 - $29 put spread. The next target is <31.75.
* 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