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Buyers or sellers? The Cubs are preparing for both trade deadline possibilities

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Cubs president of baseball operations Jed Hoyer discussed the upcoming Aug. 1 trade deadline in Anaheim on Tuesday. File photo.

ANAHEIM, Calif. — Cubs president of baseball operations Jed Hoyer and his front-office team are preparing for two trade-deadline scenarios. When do they have to decide between being buyers and sellers?

‘‘End of July,’’ Hoyer said. ‘‘Honestly, I’d love to know sooner. I’d love to rattle off a long winning streak and feel like, ‘OK, all these questions are not going to be asked anymore.’ And that’d be the hope. Certainly not gonna make any decisions early.