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.

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