By Dan Darrow
November 25th, 2022
Intraday Update: ABBV, THC
I hope everyone had a great Thanksgiving!
Indices are starting the post-holiday session slightly weaker, though the action under the surface is more mixed. There are a couple of names that need managing early:
- Let's book ABBV. The stock is pushing up near/above 160 early, and the Dec16 $160 - $162.50 call spread roll-up has turned into a solid trade. The remainder of the position will be closed as the stock gets extended, and we can watch for a consolidation to revisit another bullish strategy.
- The THC Dec16 $40 - $35 put spread roll down needs to be closed. The stock is up at the 45 stop early this morning, and the thesis for the bearish strategy is no longer valid. The trade will be closed and we can watch for a new setup.
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
