Intraday Update: MMM, ZM - T3 Live

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By Dan Darrow

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December 07, 2022

Intraday Update: MMM, ZM

Indices are mixed after a choppy morning, with some stocks recovering after a sharp few-day slide. There are a couple of more positions that need to be managed:

We tightened the stop on the MMM Dec30 $120 - $117 put spread roll down to 127 yesterday, and this morning the stock is hitting that level. The remainder of the trade will be closed.
The bear portion of the ZM Dec16 strangle will be closed this morning as the stock is trading into the 70-71 support level. This trade has been on watch for a chance to recover premium, and the slide into the low-70s may be the best shot to close the Dec16 $60 - $55 put spread before premium evaporates. The Dec16 $95 - $100 call spread will remain open as it is trading for only ~$.01-$.02 right now.

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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