Thursday, July 08, 2010

Buy SPY (sell puts)

Buy SPY via selling SPY Aug 87 puts, SPY @106.8. I re-balance the short strangle back to delta neutral. As the market moves, the delta changes.

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

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