By Dan Darrow

August 22, 2022

Intraday Update: MTCH, PYPL, UUP

  • MTCH has slid below 60 to retest the earnings day low, so the trade has played out perfectly. The Sep16 $60 - $57.50 put spread roll down will be closed into weakness this morning.
  • PYPL is at the stop for the Sep16 $100 - $110 call spread. After acting strong and consolidating above 100 as recently as last week, PYPL has turned lower quickly, with today's drop putting it below the d8ay ema and 20day sma. The trade needs to be closed this morning as the bull thesis has changed.
  • UUP is starting the week with a strong rally, and the move to 29.10+ is nailing the second target for the trade. The plan will be to close the current Oct21 $29 - $31 call spread into strength and wait for a pause/pullback to reenter a new position. We were looking for a retest of the 52-week high, and now we need to see a consolidation.

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