Tuesday, June 08, 2010

Buy TLT (sell puts)

Buy TLT via selling Jul 90 puts TLT@98.5. Bonds holding up well despite being overbought. Support at 91/90/89. I sold puts on TBT yesterday, so again the overall position is equivalent to being short puts and calls on TLT, betting on range trade. I am already short TLT Jun puts at 84 and 89 and those look to be in safe with time ticking down.

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

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