If June CPI comes in hotter than expected, is the better trade Treasuries or SPY/QQQ puts?

Maybe I’m overthinking this, so poke holes in it. The thinking seems to be that CPI should be okay because gas came down during June from the highs we saw in May. I get that. But isn’t everyone focusing on one piece of the puzzle? Gas did fall month-over-month, but compared to last june, people were still paying a lot more at the pump for most of the month. Then I started thinking about everything else that happened in June. \-World Cup started June 11 (hotels, Airbnbs, restaurants, rideshares, flights, fan events, etc.) \-Summer travel season kicked off. \-Airlines seem more willing to cut capacity than cut prices. \-Beef still feels pricey. \-Coffee hasn’t exactly gotten cheaper. My grocery bill definitely doesn’t feel like inflation is over. It felt like half the country had their AC running nonstop. Netflix, AT&T, and it seems like every subscription finds another excuse to tack on a few bucks. None of those things individually are enough to move CPI. But what if they don’t have to? What if everyone is looking at gasoline while all these smaller categories quietly add up? I’m not saying the headline CPI comes in way above expectations. Gas falling from May could still help that. I’m wondering more about core CPI What if everyone expects around .3%, but it sneaks in at .4 because a bunch of these “little” things all hit at once? If that happens, wouldn’t the bigger move be in the bond market? A hotter core number would probably push treasury yields higher as traders start pricing out rate cuts (or pricing in a greater chance the Fed stays higher for longer). In a way, the bond market would be tightening financial conditions before the Fed even has to do anything. So here’s the real question… If your thesis is “hotter CPI #**,”** what’s the cleaner trade? SPY puts? QQQ puts? A Treasury trade? Or is this whole idea already priced in and I’m just trying to justify why my grocery bill hurts my feelings? Curious what everyone thinks. My kids could use a new pair of shoes for school.😁. Thanks in advance of my loss or win🤣