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The History of the Fed Hitting Rates
Call options went in the money so far that they became larger the more that the position moved in your favor. Sometimes you couldn't even trim them fast enough because they were working so quickly. The Federal Reserve had still so high inflation numbers and the rates I believe to 600% 50 basis points at the beginning of internet bust, May 2000. Same thing happened in 2018 they raised rates in December 2018 in the middle of the big volatility here and at the end of 2018.