Post-FOMC

The FOMC announced a 0.25% rate cut. As expected, the market tanked.

Made 4 new trades (though not at the best prices) after the announcement:

• MER - Bought Jan 60 Put @$3.20 (when the stock is around $60.80); Target $50.50
• JPM - Bought Jan 45 Put @$1.60 (when the stock is around $46.36); Target $40.68
• CTX - Bought Jan 25 Put @$2.45 (when the stock is around $24.73); Target $17.77
• RYL - Bear Call Spread Dec 25/30 Call @1.60 (when the stock is around $26.26); Target $19.51

The charts for all the 4 stocks showed that the stocks are about to reverse. The FOMC announcement just expedite the reversal. The target are all 52-weeks low.

Actually, there are many weak stocks to short. Cannot play too many as I may not be able to cope.

Not reported before:

• TGT - Bear Call Spread Dec 55/60 Call @$1.55 (when the stock is around $54.98) - Played on 7 Dec and still in play.

- PersianCat04 (Millionaire-in-progress)