By Dan Darrow

November 02, 2022

Intraday Update: NOW

NOW is deteriorating quickly. Software stocks are very heavy today, and post-FOMC, NOW is losing the key 50day sma and 400 level, so the Nov25 $435 - $445 call spread needs to be closed. The action across the Software sector is troubling (many new 52-week lows today), so even the leaders are getting swept up in the selling.

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