Selling our EXPE call contracts.

Shares of EXPE are trading lower as the overall market slides further.

Investors are becoming more worried about a recession, especially after yesterday’s hawkish Fed meeting.

While the travel and leisure industry is still showing signs of a rebound, these stocks are falling in sympathy with the overall “risk-off” environment.

Now that EXPE is breaking down, it makes sense to step away from our trade and wait for a better entry point.

Meanwhile, our bearish exposure is helping to offset losses from this EXPE trade.