DailyPlay Updates – July 11, 2023

Investment Rationale

As we head into the CPI print that everyone has eyes on due to its impact on Fed policy, we review our open positions and feel that we have enough exposure going into a potentially volatile week. I am not inclined to add any further exposure to our numerous positions, nor are any of our current positions at a point where we are ready to close. The only noted name is SBUX which has reversed back into its trading range after we added to the position when it broke below its $98 support. We will be monitoring this one for a potential close if the options on them trade for less than $3.00 each. Otherwise we are going to wait until the CPI print and the earnings this week to help us gain some clarity regarding the direction of the market.