Ever seen a blind cat caught a dead mouse?

Well, folks, that was what happened to me today as the PRICELESS moment turned into a WORTHLESS one, well, almost! Thanks to MA's big move to the upside, I actually have a decent chance to pocket the $460 initial credit by the time the May options expire. So much for my gut feeling!

Learned my lesson and took a long straddle on BWLD today for its ER play:
** Bought 5 May 25 put -$750 ($1.5)
** Bought 5 May 75 call -$850 ($1.7)
** Total risk: -$1600
We'll see how this one fares today as it jumped over 10% in AH following the ER. While I am on the topic, with tomorrow's FOMC, today actually could be an idea day to play straddles, but frankly, and I got a bit scared of the idea that I might make some easy money just like that, say, anyone has a "when a perfect straddle play went wrong" story to share?

Some nightly thoughts:

** FOMC decision: I think there will be a 25 bp cut, especially if tomorrow's GDP number is weaker than expected. I don't think Fed will say anything close to "inflation is gaining traction" even if they know so, and as the result, the market may rally after the rate decision, which might provide a short-window for short plays.

** The high fliers of the commodities universe, such as AGU, APA, DVN, FCX,ACI, WLT could be shorted if they rebound towards MA10, but also could be longed if they spike down towards MA50+other key support.

** POT: I shorted just above 210 last week, and covered the next day just above 190 for 20 point gain even though I planed to cover near 180/185 so I would have a trade comparable to Razor's drys trade, but it is not even close. Where is the gut feeling when I need it?

** PXP and RIG are worth a shot from the short side if it rebounds tomorrow.