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.
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