Intraday Update: META, BABA - T3 Live

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By Dan Darrow

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August 31, 2022

Intraday Update: META, BABA

This morning certainly threw a wrench in our trade ideas from yesterday's letter! META is up huge overnight (partially in response to SNAP updating metrics this morning) and BABA has popped sharply early as well, and both proposed trades from yesterday have changed.

We will need to hold off initiating the META strangle because the stock has moved materially (and the setup is completely different now), but we can adjust the action area of the BABA Oct21 $105 - $115 call spread up to $2.40 - $2.70 to get involved. Because we are raising the net debit of the BABA position and opening the trade after it has already moved ~$4, you should plan your size accordingly.

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.".

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Trader Author Portfolio Holdings

**As of the date and time of publication

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Scott Redler, Derrick Oldensmith, and Patrick Hawe are associated members of T3 Trading Group, LLC (“T3TG”), a SEC registered Broker-Dealer & Member of FINRA SIPC. All trades made by Scott, Daniel, Derrick, and Patrick are placed through T3TG.

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