For example, you can do something like this:

Alternatively, you can wrap this in a bulk operation (that doesn’t do anything really because it’s the same table), like this:

I have to ask why you don’t simply write a correlated UPDATE or DELETE statement, like this:

UPDATE   item i1
SET      last_updated_by = 3
,        last_update_date = TRUNC(SYSDATE)
WHERE    EXISTS (SELECT NULL
                 FROM    item i2
                 WHERE   i2.item_id BETWEEN 1031 AND 1040
                 AND     i1.ROWID = i2.ROWID);

There hasn’t been time to run any tuning diagnostics on this but perhaps it should go into the queue of what-ifs. Any thoughts are welcome …