Small Put position for FOMC minutes.

Discussion in 'Stock Market' started by The Banker, Aug 21, 2019.

  1. The Banker
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    The Banker VIP Member

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    Powell always has a way of disappointing markets. The FED is divided on stimulus and the need for more, I think the FED minutes at 2 will disappoint again and the market will drop.

    I'm buying a small amount of SPY outs, 292 strike AUG 21. Should get em for $0.35, I can get out for a small loss if I'm wrong, If I'm right big dump.
     
  2. The Banker
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    The Banker VIP Member

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    closed out 2 on the first dump at $.5, holding rest
     
  3. The Banker
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    Dang, closed 2 more at break even, holding one up a big $30 on the trade. Could've been a big win, but not right now.
     
  4. Manonthestreet
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    Manonthestreet Platinum Member Gold Supporting Member Supporting Member

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    Strong retail sales might have short circuited the rush for rate cuts.
     
  5. The Banker
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    yea US data is strong, I was hoping that the market would panic over the minutes, which it didn't. BUT I still made $ which is all that matters. Only $20, really though this trade had $3-500 potential, it didn't work and I made $20... that's why I love options!!! and this type of trade.
     

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