By Dan Darrow
October 10, 2022
Intraday Update: CHPT, MBB
A couple of more morning updates:
- CHPT is at the stop. The stock is losing 14 and the key 100day sma this morning, and the Oct28 $15.50 - $19 call spread needs to be closed before a major breakdown can develop. The stock came close to hitting the initial target last week but stalled before giving a shot to scale back risk, so the fast turn lower to hit the stop is disappointing.
- MBB is at the initial target zone. The plan will be to lock in some money on the Nov18 $92 - $88 put spread and roll down to a tighter Nov18 $90 - $88 put spread. The next target is <89.25.
* 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