Wednesday, June 23, 2010

Sell SPY strangle

Sell SPY strangle via selling SPY Aug 84 puts and SDS Aug 27 puts. SPY @109.80 after Fed announcement. I already am short SPY Jul strangle with short Jul 92 puts, and short SDS Jul 30 puts. I expect SPY to stay range bound. July tends to be a quiet stock market month, while August can get more volatile. That's one reason for selling so far out of the money.

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

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