DailyPlay Positions Outlook:
Despite a sell-off in treasuries, equity markets remain resilient and the S&P 500 contends with its all-time high, a break above this resistance seems all but inevitable. With gold and silver staging another rally today, puts the dollar weakness back into view.
With CSCO beating earnings as expected, but providing poor guidance, the stock has declined and we are closing our long exposure in CSCO.
- CSCO – 88% Loss: Long Sep 18 47.5/52.5 Call Verticals @ $0.19 Credit