By Dan Darrow
August 30, 2022
Intraday Update: CHPT
CHPT is scheduled to report results after the close today, and the stock is currently off ~3% in afternoon action. We revisited a strangle on CHPT when the stock rolled lower into the key multi-year downtrend last week, and it has made little progress one way or the other since then. Earnings may be the catalyst needed to start either another run or a breakdown into the low-teens, so the Sep30 strangle will remain open into the print. If you would prefer to not take the risk into earnings, now would be a good time to close the position or size down.
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**As of the date and time of publication