Buy GLD via selling May 92 puts. Way out of the money, as has been my recent pattern with GLD, so it is a low conviction buy. I am already short GLD Apr 95 puts.
The stock market is roaring back from its minor down day on the Portugal news. The rally is stunning. Bonds are acting terribly. My TLT position is now underwater. I may roll the short Apr puts to May, I doubt I'll double up on short puts like I am doing with gold. I am thinking to close out my long SPY May 104 puts when the delta gets to -5 or so, right now it is -7.9 with SPY at 118.
Long GLD, TLT
neutral SPY
No comments:
Post a Comment