By Dan Darrow

October 18, 2022

Intraday Update: LCID

LCID popped off the open yesterday and the Nov18 $12 put was opened well below the proposed action area, but that also meant the stock was closer to the 13.15 technical stop. LCID is into that stop level this afternoon, but instead of closing the position, we are going to sell a Nov18 $10 put to turn the trade into a low debit put spread. As a lagging stock, LCID should turn lower quickly if the indices roll over, so it makes sense to stick with a trade for now. If it resets above 13.90 (the 20day sma), then we will exit the position.

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