July 18, 2022

Intraday Update: OXY, GOOGL

Oil is popping to start the week sharply higher, and Energy stocks are indicating a 2.5%+ open. OXY will be opening above the tight technical stop for the bear position, so the plan will be to work quickly to close the Aug19 $57.50 - $52.50 put spread. This was a make-or-break bear setup, and a reset of the 100day sma changes the pattern.

Also, GOOGL's 20-for-1 stock split went into effect after the close on Friday, so the new split-adjusted strike prices for the strategy are Aug05 $116 - $116.50. For every 1 call spread you had pre-split, you will now have 20 call spreads.

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