You meant buy gamma? Not a non-event is an event and you should be long gamma at 27 if you hold such view
How to make money from the Fed’s interest-rate decision?
- Thread starter Lloyd W. Coutee
- Start date
I misread his statement. Yes. Buy gamma.
Since Dec. 16, 2008, the Fed has kept its benchmark interest rate at a range between zero and one-quarter percent. The move was announced in the gloom of the longest recession since World War II, as jobs were being squeezed out of the economy like a sponge. Ten days earlier, the government announced the United States economy shrank by 533,000 jobs in the previous month, the largest one-month loss since 1974. (The number was actually far worse; it was later revised to a loss of 765,000 jobs.)
I lost count of how many reversals we had yesterday from 2-4 pm. But looks like today will have some as well. Don't trust anything.