XLF has had a volatile few sessions of action, with large swings each day starting on Thursday (similar to the overall market). Solid BAC earnings this morning gave a big bid to the Banks early, but XLF stalled before breaking above the key 32 level. It is sitting around 31.80 in late morning action, and it is at a spot where it makes sense to manage the Oct21 strangle. The plan will be to close the remainder of the trade (Oct21 $32 - $34.50 call spread, Oct21 $31 - $29.50 put spread roll down) as time is running low. With the back-and-forth action leading to no sustained direction, it is better to close the position while there is still decent premium on the contracts. We can watch XLF now for a quick setup once it consolidates.