By Dan Darrow

November 07, 2022

Intraday Update: W, TSLA

W is sliding under 32 early off the open this morning, and we will take the opportunity to close the remainder of the Nov11 strangle. The Nov11 $32 - $30 put spread roll down will be closed into the morning dip, and we will wait for a new setup on the stock now.

TSLA is sliding into view of 200 this morning, so let's take some risk off of the Nov25 strangle. The plan will be to close the Nov25 $200 -$195 put spread and roll down to a Nov25 $190 - $185 put spread. The next target will be <190. The bull portion of the strangle will remain open for now.

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