DailyPlay Positions Outlook:

Markets have taken a turn lower as momentum shifts to the bearish side, the probability of a pullback has increased. Despite this, markets remain above major resistance levels and are neutral rather than outright bearish. If SPY breaks below $300-302 and QQQ below $237-240, that would put the markets in a more bearish tone. For now, we are adjusting our positions to reduce our long exposure as we see limited upside in the markets. 

Closing Trades

• LYFT – 44% Loss: Short Jul 10 31.5/36.5 Put Verticals @ $3.10
• WDAY – 27% Loss: Long Jul 17 180/210 Call Verticals @ $6.55