By Dan Darrow
October 11, 2022
Intraday Update: XLF
Let's scale back some risk on XLF. Banks are beginning the session weak, and the ~$.25 early move lower on XLF is offering a nice opportunity to adjust the straddle pre-CPI and earnings. The plan will be to close the current Oct21 $32 - $29.50 put spread and roll down to a tighter Oct21 $31 - $29.50 put spread. The trade will not be adjusted until after earnings on Friday (unless there is a large move under 29.50 before then).
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