Week 27: Powell confirms interest rate cuts are coming

What a wild ride the past 3 weeks has been. Finally on Friday, Fed Chair Powell confirms that an interest rate cut is coming in September. Question on everyone's mind is now: By how much? Most are expecting 25 bps but there's a growing group of investors who think we need 50 bps, even 75 bps. We'll find out in less than 4 weeks.

Investing 101: When an option expires at its strike price, what happens?

I had a covered call position with QQQ opened a few weeks ago with a strike price of $480. For most of the time it was out of the money but last week the stock jumped to the mid $470's so I decided to buy back to close a few days before the expiry date, which is today. I pocketed a couple hundred dollars by closing my position early but gave up some money since the option still had time value.