This mid-week update is going out on Tuesday to get in front the FOMC interest rate havoc due out tomorrow. The reason being that we have two huge option winners going off the board on Friday, December 20th, and "just in case" the floor gives way tomorrow, let's review those positions and what to do. TLT - FOMC News Pending But first, we have the FOMC and our recent TLT put position to discuss. The assumption is that a Wave 3 down to the low 80's is unfolding and there is little the FOMC can do tomorrow to change that assumption: Although the low 80's is an attractive target, it's the mid 70's for a Wave 5 target that is really appealing here and worth the risk of a Fed induced bounce first. Dec 20th Options Expiration Note: TSLL strike adjusted from $10.00 to $9.70 (as per options exchange). Both TSLL and BITO have alternative strikes/expiration we have been adding over the past few weeks. If still holding these Dec options, consider banking half of proceeds and then rolling over remainder into the Mar TSLL and Mar BITO from above table. Mid-Week Charts Update TSLA TSLL BTC BITO
