By Dan Darrow
August 31, 2022
Intraday Update: CHPT
CHPT had a solid print after the close yesterday, and the stock is running out of the gate this morning. The 11%+ rally has the Sep30 $16 - $19 call spread nicely into the money, so the plan will be to reduce some risk on the bull portion of the strangle and roll up to a tighter Sep30 $17 - $19 call spread. The next target is 17.50+. The bear portion of the strangle will remain open for now.
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**As of the date and time of publication