By Dan Darrow

October 24, 2022

Intraday Update: FDX

FDX has shaken off a pre-market downgrade and is hanging up ~1% in afternoon action. Peer UPS will have earnings tomorrow morning, and the numbers should have an impact on FDX similar to what took place in September. With FDX in a tight range since the start of October, a move to >160 or <148 should trigger a larger, sustained move, so we will open a short-term Nov04 $148 - $144 put spread hedge to hold with the current Nov18 call spread. We will update the position after UPS results are digested by the market (either tomorrow or Wednesday).

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