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Trade Findings and Adjustments 12-01-22
Keve Bybee – keve@hurleyinvestments.com
What have we done this week?
- Took SPY puts off as Fed Powell came out and said he can see slowing rate hikes as soon as December
- So instead of 75 BPS they may do 50 bps
- Took protection off of AAPL, BA, BIDU, META
- Kept on protection for BAC, JPM, DIS, F, V
- Last week Fed Bullard came out and said that recent inflation numbers weren’t enough to slow down rate hikes.
- Market is worried the economy is going into recession
- Big companies are laying off employees. (DIS, META, GOOGL, etc.)
Christmas rally?
- Depending on unemployment numbers on Dec 2nd (tomorrow), we could see the market continue up for a couple weeks before the FED rate meeting
- We’ll have a Christmas rally depending on how the Rate meeting goes in 2 weeks
What are we looking to do?
- Possibly adding SPY calls if our economic numbers help us tomorrow
