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By Dan Darrow

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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.

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

DISCLOSURES