By Dan Darrow

August 26, 2022

Intraday Update: GFS, XLF

Powell drove home the point that the Fed is focused on bringing down inflation, and the dovish potential pivot some had mentioned over the past month, seems to be increasingly less likely. Indices have been spinning around wildly following the statement, but the selling has picked up some momentum on the downside. We will move forward with the GFS and XLF option trade ideas from yesterday's letter, but we will continue to use the tight technical/debit stop losses on both.

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