July 26, 2022
Intraday Update: U
U is not giving a chance to get involved. A weak open and weak action over the first hour has sent U tumbling ~6.5%, and the drop near 33 has pushed the price of the Aug19 $36 - $30 put spread well above the action area. There appears to be potential for another leg lower, but we will need to adjust the contracts to get involved. Also, because we are initiating a position after a larger drop this morning, the trade is now higher risk, so be sure to plan your size accordingly:
- Long Aug19 $33 - $29 put spread
Open Positions
Trader Author Portfolio Holdings
**As of the date and time of publication