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.
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