By Dan Darrow
September 09, 2022
Intraday Update: SHOP
SHOP is having a great day. The stock has finally made a move after dancing around the critical 30 level, and the run to 34+ today has sent the bull portion of the strangle solidly into the money. The plan will be to reduce risk on the Sep30 $34 - $39 call spread and roll up to a lower debit Sep30 $36 - $39 call spread. The next target will be 36.50+. The bear portion of the strangle will remain open for now.
Trader Author Portfolio Holdings
**As of the date and time of publication