By Dan Darrow
December 05, 2022
Intraday Update: ENPH, UPST
Two afternoon updates as indices continue to remain under pressure:
- ENPH has recovered for a deep red morning, and the move this afternoon to the high-330s is offering a great opportunity to lock in the remainder of the short-term trade. The Dec16 $330/$350/$370 call fly roll up will be closed into strength.
- We are going to roll out UPST to buy more time for the trade. The stock is under 18 again to send the Dec16 $18 - $14 put spread into the money, but a lack of a decisive move lower has started to weigh on the short-term options. The plan will be to close the current spread and open a Jan20 $17.50 - $12.50 put spread. We will use 20.50 as a technical stop now.
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