By Dan Darrow
September 16, 2022
Intraday Update: GLD, OKTA
Two more early updates as stocks and indices open weak:
- GLD broke down in a big way yesterday, and the continued weakness this morning has sent the Oct21 $157 - $150 put spread into the target range. The plan will be to lock in some money and roll down to an Oct21 $154 - $150 put spread. The next target is <152.50.
- OKTA is below 60 and into the roll range early. The Oct21 $60 - $55 put spread will be closed and an Oct21 $55 /$50/ $45 standard ratio put fly (1:2:1) will be opened. The next target is <55 or a 70% net debit gain.
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
