Intraday Update: SHOP

By Dan Darrow

September 22, 2022

Intraday Update: SHOP

SHOP was on close watch today and it has come through for the strangle. A break of the critical 30 support level has led to a sharp drop down near 28, and the Sep30 $28 - $24 put spread portion of the strangle has made back all of what it was down and then some. With time running low, the plan here will be to close the put spread and roll down to an Oct21 $26 - $23.50 put spread. The next target will be <26 on the downside. In addition, the Sep30 $36 - $39 call spread roll up can be closed now.

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

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