August 11, 2022

Intraday Update: FCEL, JETS

Indices are continuing to build this morning on the bullish momentum from the cooler-than-anticipated CPI reading, and with many stocks indicating early gains after large runs yesterday, there are a couple of positions that need managing early:

  • FCEL is indicating a ~9% open after a big session yesterday, and the stock will be trading near the 200day sma early. That moving average was the top end of the target expected for the short-term position, so the Aug19 $5 - $6 call spread roll up will be closed into strength off the open.
  • JETS had a strong session yesterday and is following it up with a solid start this morning, and the early rally has it near the 19 initial target range for the Sep16 $18 call. The plan will be to close the current call and roll up to a lower debit Sep16 $19 - $21 call spread. The next target will be 19.40+

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