By Dan Darrow

September 23, 2022

Intraday Update: TGT, OKTA

Indices are staring at another red open as weakness post-FOMC continues. With the slide again this morning, there are a couple of positions that need managing early:

  • TGT is indicating an open around 151, and the Oct21 $155 - $150 put spread roll down will be deep in-the-money. The remainder of the trade will be locked in early off the open, and we will wait for a new setup.
  • OKTA is indicating an open around 53, nailing the <54 target mentioned in yesterday's letter. The Oct21 $55/$50/$45 put fly roll down will be closed into weakness, and we will wait for a new setup.

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