By Dan Darrow

December 12, 2022

Intraday Update: SI

SI had a fast dip down under 20 earlier, but the move lasted only a couple of minutes. I've been waiting to see if the stock would retest the morning low, but with it starting to push back to 21, it makes sense to scale back some risk on the Jan20 strangle here. The plan will be to close the Jan20 $20 - $15 put spread portion of the strangle and roll down to a lower debit Jan20 $15 - $12.50 put spread. The bull portion of the strangle will remain open for 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