\- New home sales just printed 587K vs 722K expected. Worst miss in 13 years. In January. Before the war.
\- 30Y mortgage sitting at 6.34%. Fed just told you they're not cutting.
\- Strait of Hormuz still closed. Oil spiking. Gas prices eating the consumer budget that would have gone to lumber and appliances.
\- Iran struck Qatar's LNG terminal yesterday. The Fed's hands are tied tighter every day this drags on.
\- HD has a "pro contractor" segment that bulls will cite. Except new home starts just collapsed 17.6% so there's nothing left to contract.
\- Spring selling season is happening right now into this backdrop. Q2 earnings print mid-August. Right before expiry.
Bought 15 x $310 strike for Aug 21st
