By Dan Darrow

August 26, 2022

Intraday Update: XLF

I try to avoid late-session updates, but with today's weak action, it makes sense to manage the XLF Oct21 $35 call. The trade was opened after Powell's statement, and since then, the market has dropped sharply and XLF has rolled lower with it. The ETF is within $.02 of the 33.80 stop (as of writing this), and the weak finish seems to indicate a down open for Monday, so the trade will be closed before the end of the day today.

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