By Dan Darrow
September 12, 2022
Intraday Update: FL, COF
A couple of more early updates as the strength continues across the market:
- FL is above the initial 39 target, so it is time to reduce risk on the Oct21 $37.50 call. The plan will be to sell an Oct21 $42.50 call against the current position to turn the strategy into a call spread. This will reduce the net debit of the trade by ~40%, but still provide a large window to capitalize on a move higher. The next target is 40.50+.
- COF is at the debit stop loss for the Oct21 $100 - $95 put spread. The stock has rebounded along with the Financials and the overall market, and today's early rally is triggering the stop for the trade.
Open Positions
Trader Author Portfolio Holdings
**As of the date and time of publication