Market rallied significantly on Fed announcement of “patience” on Wed Dec 17. Position expired OTM, losing about $290. Limited risk reward trade, executed in IRA. Lesson learned “I fought the FED and the FED won”.
Decided to lightly short home builders, has not made a new high with the market and has run up significantly in the last 2 weeks, and maybe at longer term down trendline.
Max risk: $290
Max gain: about $1800, but likely $1000