Buy TLT via selling Mar 86 puts, TLT at 91.50. I would have preferred to wait for TLT to decline under 90, but now am thinking the decline may come too late, to get much premium on March puts.
Remember the drumbeat at the beginning of the year that inflation was sure to rise, and bonds were sure to tank. So far it hasn't happened. Right now TLT is one of the better performing asset class long ETFs for calendar 2010.
Long TLT, GLD, TM
Short SPY
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