SPY Backratio

I take a shot with a complicated trade, a SPY Backratio, selling two Sep 88 puts for every Sep 96 put bought SPY @107.1. The strikes makes for a credit spread, with a huge max profit around SPY 88 at September expiration. If SPY drops below 80 it starts to lose money. At SPY in the low 90s there is a good profit. At SPY 100+ even with extreme up moves, I get to keep the tiny credit. It is close to a delta neutral trade, adding to SPY long exposure right now, but turning negative as time goes by.

Long BRKB, GLD, SPY*, TLT*
SPY offset by SDS, net long SPY
TLT offset by TBT, net long TLT