GM Powell Speech BetTwo Fed members have already signaled a reluctance to cut rates in Sept, but the market decided to melt back up today regardless. The Big Kahuna, Powell, talks tomorrow in Jackson Hole at 10am EST. Appears there are some that are expecting him to pump the market again because he did the last 3 speeches. Based on Fed meeting minutes and the other members, I don't see him pumping tomorrow.
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 ETF). When betting for or against the Fed, find rate sensitive stocks or ETFs that have good liquidity and low premiums.
Note: GM has a bear flag going