By Dan Darrow

October 05, 2022

Intraday Update: UNH, CHWY

Two early updates as indices try to find footing after a weak open:

  • UNH has ticked up to 525+ to send the Oct21 $525 - $530 call spread into the money, so we will work quick to lock in money on the ramp into the report play. The plan will be to close the current spread and roll up to a lower debit Oct21 $527.50 - $530 call spread. We will still be targeting another leg higher over the next week to lock in more gains.
  • CHWY is strong today and the Oct21 $30 - $27 put spread roll down is at the stop loss range. The remainder of the bearish position needs to be closed this morning while there is still premium left on the shorter-term options.

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