Buy SPY via selling Jul 92 puts SPY @112.0. I rebalance my strangle as SPY rallies. I am already short SPY Jul 66 and Jul 88 puts, and short SDS Jul 30 puts. As SPY rallies, the strangle is getting out of balance, giving me a net short position via SDS. Selling another batch of SPY puts gets me closer to net neutral on SPY.
I am going to attend an OptionPlanet class on complex strategies in Marina Del Rey on Friday.
Long BRKB, GLD, SDS, SPY, TBT, TLT
SDS/SPY = short strangle on SPY
TBT/TLT = short strangle on TLT
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