Buy GLD via selling Aug 105 puts GLD @121.9. Layering on an August position on top of short Jul 100 puts. As has been the case for me in gold all year, another low risk, low reward trade.
Looks like I was at least a day early selling volatility on SPY, as VIX is up 2.5 to 29.6 today, and my short strangle is down about 20% on notional value. Support at SPY 108 broken, next stop may be 104/105.
Long BRKB, GLD, SDS, SPY, TBT, TLT
SDS/SPY = short strangle on SPY
TBT/TLT = short strangle on TLT
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