By Dan Darrow
August 22, 2022
Intraday Update: NVAX
Let's lock in some money on NVAX. The stock has dropped to the 35 initial target zone quickly this morning, so the plan will be to close the Sep16 $35 - $30 put spread portion of the strangle and roll down to a tighter Sep16 $32.50 - $30 put spread. The next target will be <31.75. The bull portion of the strangle will remain open for now.
Trader Author Portfolio Holdings
**As of the date and time of publication