Intraday Update: TSLA, QQQ - T3 Live

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By Dan Darrow

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September 29, 2022

Intraday Update: TSLA, QQQ

The selling has not let up on the indices today, and now QQQ has joined SPY at a new 52-week low. There are a couple of positions that need managing before the close:

TSLA is down >7% today as selling finally catches up to the recent leader. I decided to give the Oct14 $315- $320 call spread slightly more room because the company will be hosting an AI day tomorrow and will give deliveries this weekend, but the drop today is weighing heavily on the call spread and we need to respect the debit stop loss. The trade will be closed this afternoon, and we will watch for a possible revisit after the delivery numbers.
QQQ is now sliding below the bottom of the Nov18 $280 - $270 put spread, so we will adjust the lower similar to SPY. The current QQQ put spread will be closed and a Nov18 $265 - $255 put spread will be opened.

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Trader Author Portfolio Holdings

**As of the date and time of publication

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