During this 0.75% surprise rate cut, purchased some .QQQFR (QQQQ June $44 Call) options. Altough I catched most of the upside move, only made modest profits. Options were expensive, volatility jacked up. So, during Fed cuts options are not a good choice? (Unless you buy them some days earlier, with volatilty premium at still reasonable levels)?
IV sharply increases during big sell-offs, it has nothing to do with "fed cuts". QQQQ options will be a cheap again when the market settles down. NQ mini futures might be the better choice at this time.