This is a big Fed day, making any new trading going into this afternoon's 2:00 pm EDT announcement a flip of the coin. The PRO Bond trade (TLT) is up 200% (on top of the 400% gain from the Feb 19th TLT puts) but the current put ($143) expires on Friday. Taking partial profits ahead of today's Fed statement makes sense, knowing that if the bond market tanks going into the close we will want to be moving quickly to roll the remaining position, if not more, into the April 16th expiration. Expect all eyes, including ours, on the Fed today.
