By Dan Darrow
October 18, 2022
Intraday Update: NKE, AMZN, ADBE
Indices are following up yesterday's large rally with a huge gap higher this morning, and as QQQ and SPY begin to break out of the recent monthly downtrend (would have preferred to see the move develop during the session for confirmation), many stocks are opening significantly green. It will likely be a busy morning of updates, but we need to start with NKE as it is opening at the tightened stop level (92.25). The Nov18 $85 - $80 put spread will be closed before the stock can build momentum into the earnings gap.
Also, we will give AMZN and ADBE 30-45 minutes off the open to see if the stocks retrace and/or give new tradeable patterns (both are up sharply early).
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
