By Dan Darrow

September 21st, 2022

Intraday Update: LVS, TGT

The plan was to wait until after 3:00 pm ET today to make sure the LVS and TGT setups were still valid, and only one of the two is:

    • LVS has reversed sharply lower after probing 40 yesterday, and the developing breakout has been put on hold again. We will hold off initiating the Nov18 $42 - $47 call spread for now, and watch for a move to 39-39.50+ again to revisit a bullish strategy.
    • TGT has caught a bid today following a bullish analyst note on WMT, but the stock is still below the key 50day sma. The breakdown pattern is still intact, so we can move forward with the Oct21 $157.50 - $150 put spread, though we will use a technical stop at 167 (above the 100day sma) in addition to the 40-50% net debit loss stop.

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