Keep in mind that cash is a position. There is nothing wrong with taking a neutral position when you know that there's a significant event coming up over which you have no control. The decision to stand aside and not put on a trade is a sign of maturity.
I'm not the most experience, but I do trade credit spreads, which was probably the wrong vehicle in this bianary situation. CS work when things (vol) are calming down, not heating up. Also there was good support at 204 (not that it matered), I would have at least set my short strike at 203 or below. A debit spread may have been better, but you still have to get the direction of the delta somewhat right. On Monday you may be very glad you took a quick loss, which is the hardest part for traders to learn and do.
I'm not a senior trader, but here's my two cents worth: If you're coming in that late, I would consider a long delta neutral straddle of some sort. Like someone else has said, the stay side was already baked in the price.