By Dan Darrow
October 20, 2022
Intraday Update: RH
Another big morning rally has fizzled, and indices are losing steam quickly into the afternoon. RH is beginning to slide below last week's low and it is into the initial target range (<232). The plan will be to close the current Nov18 $230 - $220 put spread and roll down to a Nov18 $220/$210/$200 put fly (standard ration 1:2:1). The next target will be <220 or a 70%+ gain for the put fly.
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