Markets have started to reverse lower on concerns over a protracted trade war and slowdown in corporate profits. Additionally, tariffs and trade war rhetoric provide additional headwinds for the stock market. We are taking this opportunity to cut losses and clear the deck on long positions and start positioning for short positions.
Closing Trades
- COST – 35% Loss: Long Jun 28 245/265 Call Verticals @ $4.81
- JPM – 51% Loss: Long Jul 19 110/120 Call Verticals @ $1.90
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