By Dan Darrow
September 23, 2022
Intraday Update: CHWY, WFC
Two more early updates:
- CHWY is into the roll zone, so the plan will be to close the current Oct21 $32 - $27 put spread and roll down to a tighter Oct21 $30 - $27 put spread. The next target will be <28.50.
- The WFC Oct21 put has been well above the action area since the open as the stock has gapped sharply lower, so we need to hold off initiating the trade for now. If the stock settles into a lower range or rebounds, we can target a fast bearish strategy on it.
* 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