The Fed opted to keep rates the same despite all signs that inflation is rearing its ugly head again but there is nothing we can do about that except continue to sit on T-bills and earn 5.3% interest.
You can read the full FOMC report here.
The other trade we’ve been scalping in is covered calls on Apple stock. AAPL has been stuck in a trading range from $155 to $199 to the past year but our strategy is to simply sell the Friday OTM calls when available. Our trade has been going well so far and we don’t recommend it because we are only trading small amounts of 200 shares and two contracts and it’s mostly to fight the boredom.
We do expect an inflation realization at some point later this year that may cause the Fed to take unprecedented action but for now we’ll just sit and wait and continue to research opportunities in this very over valued market.
Stay tuned, stay profitable and stay solvent…