August 08, 2022

Intraday Update: CHPT

We are going to lock in some money on CHPT early. The EV Charging name is indicating a strong open after the Senate passed the Inflation Reduction Act, and CHPT's move through the 200day sma is offering a nice opportunity to begin to manage the Sep16 strangle. The plan will be to close the current Sep16 $17 call and roll up to a lower debit Sep16 $19 - $23 call spread. The next target will be 19+. The bear portion of the strangle will remain open for now (likely until the company reports earnings).

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