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).

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