By Dan Darrow

August 22, 2022

Intraday Update: UAA, PLTR

The market is struggling to stabilize after a weak morning, and new afternoon lows are leading to a couple of positions needing managing:

  • UAA has been trading slightly under the 9 stop level most the session, and a lack of a meaningful rebound attempt means the Oct21 $10 call needs to be closed. We can revisit a new trade on UAA if it resets around 10 in the near future.
  • PLTR is at the initial target zone. The stock is closing in on 8 in afternoon trading and the Oct21 $9 - $6 put spread is well into the money. The plan will be to close the current spread and roll down to a tighter Oct21 $8 - $6 put spread. The next target is <7.50.

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