Buy SDS (sell puts)

Buy SDS via selling Jul 30 puts SDS @36.3. The tape action on the stock market is looking ugly. I am short SPY puts and SDS puts, effectively a short strangle on SPY. Same with TLT, TBT, effectively a short strangle on bonds.

The SDS puts strike of 30 is equivalent to where the market broke in early May around SPY 118. So if I did get assigned on SDS it would be like shorting SPY around 118.

Meanwhile, GLD blasts higher, much to my surprise. Clive Maund has some interesting chart analysis on GLD, SLV, SPY at Kitco (link).

Long BRKB, GLD, SDS, SPY, TBT, TLT
SDS/SPY = short strangle on SPY
TBT/TLT = short strangle on TLT