The Fed interest rate hike was very much in line with the market expectation, however the market didn't like the fact that the Fed is planning to raise interest rates for a few more months so it erased the gains of the day very quickly.
For those, who are new to my daily market comments, I place and document one trade a day with the objective of helping everyone learn how to trade options.
What's my trade for today?
#EWZ (#BrazilETF) again. I sold the $27 put option against it 2 days ago but the price continued going down. I am so confident in a rebound that I sold the $26 put too. By the time the market closed the price did rebound and I would have been able to close it for a quick profit but I decided to hold onto it.