By Dan Darrow
August 16, 2022
Intraday Update: PLTR
PLTR has opened weak along with the overall market, and the proposed Oct21 $10 put from yesterday's letter has been above the action area all morning. The trade thesis still stands, though the nearly 5% drop has removed some of the potential. We are going to adjust the contracts for the trade, and because the stock has already moved in the direction of the strategy, you should approach the trade as more speculative. The new trade is:
- Long Oct21 $9 - $6 put spread
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
