By Dan Darrow

December 06, 2022

Intraday Update: RCL, UPST

A couple of more early updates as indices continue their slide from yesterday:

  • RCL has been battling a breakout around the 60 level for several weeks and looked ready to run a few sessions ago when it traded up near 62, but now it is reversing lower. A downgrade this morning has knocked RCL under the 8day ema and 20day sma, and is threatening to start a more material move lower. The Jan20 $60 - $67.50 call spread needs to be closed before a major breakdown can develop.
  • UPST is at the initial target range, so after rolling out the position to a Jan20 $17.50 - $12.50 put spread, we are going to lock in some money. The plan will be to close the current spread and open a lower debit Jan20 $15 - $12.50 put spread. The next target is <15.

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