What Today’s Fed News Means for TLT

Posted by Joe Duffy | Aug 23, 2024 | Joe Duffy's Trading Advantage | 0 |

Friday is Jackson Hole with Fed Chair Powell speaking just after the markets settle in at 10 am EST. TLT hit $99 yesterday. I clearly stated the parameters were $95 and $99 and act accordingly at each level. I hope some of you long TLT exited or sold a short dated option against existing positions at the $99 level. We will wait and see what Friday brings from Powell before deciding how to proceed again on TLT. All that within a framework of buying far dated TLT calls and selling short dated calls against them on rallies. Individual stocks do not excite me either direction. We may get a big move Friday, but I would not, and have not placed a bet on which direction. Time for patience again.

Thanks,

Joe

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Joe Duffy

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