By Dan Darrow
November 29, 2022
Intraday Update: MBLY, EBAY
Indices have turned lower following a choppy couple of hours of action, and the mid-morning drop means there are a couple of positions that need managing:
- We are going to close the remainder of MBLY. The turn and run through 30 made for a great trade for the initial Dec16 call (then call spread), and when we rolled up to the current Dec16 $35 call, it was as a lower debit play to see if momentum continued. It has not, unfortunately, and today's slide back below 27 has changed the bullish thesis. The remainder of the position will be closed today while there is still some premium left on the call.
- EBAY is at the tight 43.75 net debit stop loss zone. We revisited a bullish trade on EBAY as the stock flagged around 45, but steady selling yesterday and today has knocked the stock under recent support and the 8day ema. The Jan20 $45 - $50 call spread will be closed this morning.
Trader Author Portfolio Holdings
**As of the date and time of publication