By Dan Darrow
October 11, 2022
Intraday Update: KR
KR popped yesterday morning and the Nov18 $43 - $39 put spread was opened below the action area, but the strong action also put the stock above the 8day ema by the close. Now, KR has rallied up past 45 and into the 20day sma this morning, and the bear pattern has changed. With the thesis no longer valid, the put spread needs to be closed before the stock can stage a larger rebound into the high-40s.
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**As of the date and time of publication