I think tomorrow we could have some fireworks later in the day 3pm+ or maybe Thursday morning on the downside once the new vix contracts roll in along with post FOMC event vol gone. If the market is way up and then it stalls out, look out below because there will be very few hedges in place to support us. Usually I either play these moves with SPX puts or with a name with relative weakness to have more time than 0DTE. Many ways to play this set up.

If the fed is very dovish and rates dramatically fall then I think IWM small cap index could work for upside. If rates spike hard and we sell of later on in the day then IWM could also work for downside. I like to get a feel for how things are moving during the day to decide which go-to names to trade. Have a plan for both outcomes and you’ll be prepared. 

I tried to fade MARA with puts today in the afternoon but it soaked its dips and held well. Very small loss which is great because if a trade like that works you usually get a multi bagger win on it so the reward to risk is likely 10-20 to 1 if you keep the loss small. The miners may get some rotation back into them at some point during the next few weeks since they all fell so much in anticipation of the halving event for BTC next month. Good reminder that markets are forward looking so changes can happen before events especially ones like this.