Fun_Bed9734

Fun_Bed9734 t1_iya4xvj wrote

395 held. I have my strangle for 400c/391p for SPY for tomorrow's data and JPow's speech. Have some cash left to go with whatever direction we go after that speech/Q&A. All signs are pointing to him being conservative and reiterating what other Feds have said, "there's a long way to go still". I just don't understand the pause narrative that some market participants are believing in. That's probably not coming anytime soon

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Fun_Bed9734 t1_iy69yxv wrote

I'm playing volatility. I'm buying a strangle on SPY. 395 is great support, but if it fails we could see 390 tomorrow. If market ends at 395 then I'm buying 400c/390p strangle. If we end as 390, then getting 395c/385p. Let it ride thru Powell's speech, and maybe play PCE data. But, reluctant. This market is getting more and more volatile with poor liquidity

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