By Dan Darrow
September 26, 2022
Intraday Update: SPY, QQQ
With a red finish to the week, SPY dropped through the bottom of the Nov18 $380 - $370 put spread hedge, and early weakness this morning has SPY within striking distance of its 52-week low. The plan will be to close the current spread and roll down to a Nov18 $360 - $350 put spread in the event we get a breakdown in the near term. QQQ is not through the bottom of the hedge yet, so that put spread 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
