$SPY 20240920 565.0 CALL$ I closed these positions after a hedge it would pop into the Fed decision before they dumped it 🤣 Caught the bounce into the Fed decision. Wow they dumped it and now it will be choppy into Powell. Would look at Puts now.
SUMMARY OF FED DECISION (9/18/24):
1. Fed cuts interest rates by 50 bps for first time since 2020
2. Fed sees 2 more 25 basis point rate cuts in 2024
3. One Fed governor dissented for the first time since 2005 in favor of a 25 bps rate cut
4. Fed gained "greater confidence" that inflation is moving to 2%
5. Fed will "carefully asses incoming data" and evolve outlook
6. Fed sees 100 bps of rate cuts in 2025 and 50 bps of cuts in 2026
The long awaited "Fed pivot" has officially begun.
@Tiger_comments @Daily_Discussion @TigerStars @TigerPicks
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