By Dan Darrow
November 10, 2022
Intraday Update: VZ, KMX
A cooler-than-expected CPI reading this morning (7.7% vs 7.9% expected) has given a big boost to the indices early, and it will likely lead to a busy day of managing positions. There are two positions at the target/stop early, though, so they need to be adjusted off the open:
- VZ will be opening at the 50day sma, so it makes sense to work quickly to lock in some money on the Nov25 $37 call. The plan will be to close the current position and roll up to a lower debit Nov25 $38 - $40 call spread. The next target is 39+.
- KMX will be opening above the tight technical stop, so the Dec16 $60 - $55 put spread needs to be closed early.
- Also, as a reminder, we are giving ROKU and DVA 30-45 minutes off the open to see if the setups are still valid before initiating the trades.
Trader Author Portfolio Holdings
**As of the date and time of publication