August 03, 2022

Intraday Update: CRM, MPC

A couple more early updates as gains build across the market:

  • CRM is at the initial target range for the Sep16 $190 - $200 call spread, so the plan will be to lock in some gains and roll up to a tighter Sep16 $195 -$200 call spread. The next target is 195+.
  • MPC has been green since the open and the proposed Sep16 $95 - $105 call spread has been above the action area all morning. There is some potential left on the bull thesis, but the trade is now slightly riskier, so we will need to adjust the contracts of the new strategy to account for that. The new trade will be:
    • Long Sep16 $97.50 - $105 call spread.

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