By Dan Darrow
October 12, 2022
Intraday Update: MRNA
MRNA is a tough stock! Twice in the last two months, we planned on opening a bearish trade on MRNA only to have to hold off following a large gap/run higher the morning of the initiation. Then, after patiently waiting for the stock to retrace back to 120 to reset the bear pattern, the Nov18 $115 - $105 put spread was opened yesterday, only to see the stock gap up significantly this morning on a headline announcing a MRK development/commercialization agreement. The frustrating turn of events means the MRNA Nov18 $115 - $105 put spread will be closed early off the open, and we will stop focusing on the stock in the near term due to the erratic trading.
Trader Author Portfolio Holdings
**As of the date and time of publication