By Dan Darrow

December 12, 2022

Intraday Update: OKTA, QQQ, SPY

It's no surprise that tomorrow and Wednesday will be busy trading sessions, with the critical CPI reading premarket tomorrow kick-starting a wild 48-hour stretch. We've been holding off adjusting the hedges until closer to the CPI release, so today is the day to update the QQQ and SPY put spreads. In addition, OKTA is at the initial target zone to start managing the trade:

  • The OKTA Jan20 $65 - $75 call spread will be closed to lock in some money and a tighter Jan20 $70 - $75 call spread will be opened. The next target is 71.50+.
  • The QQQ Dec16 $260 - $250 put spread will be closed and a Feb17 $280 - $270 put spread will be opened.
  • The SPY Dec16 $370 - $360 put spread will be closed and a Feb17 $390 - $380 put spread will be opened.

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