The plan is to buy puts now (half in case it continues the melt up), add tomorrow on open before the speech. Weekly GM options are cheap and have good liquidity. Note that this is basically an all or nothing bet, if the market goes up, you lose it all.
Auto manufacturers are very rate sensitive, another option would be XLF (financial ). When betting for or against the Fed, find rate sensitive stocks or ETFs that have good liquidity and low premiums.
Note: GM has a going
Just letting you guys know that this isn't a sure thing, plus I'm keeping the play small (hence the weekly puts for all or nothing).
By all means let me know if you come up with other similar stocks. I like UAA but it's really not directly tied to interest rates.
Done posting on GM for now. This was a fun trade.
Kinda wish I threw a little more money at it, didn't double up this morning because it had gapped down. Imagine if you had loaded the boat and bought 100 contracts of $37.5 puts at $.29 yesterday... oh well. (I had 15, was gonna add to 30 if the market gapped up).