Friday, July 23, 2010

Buy SPY (sell puts)

Buy SPY via selling SPY Aug 100 puts. More rebalancing of my short strangle, getting me close to net neutral on SPY, with SPY@110.5.

A few minutes later, I cover my short SPY Aug 84 puts for a nice profit to free up capital and in case there is a waterfall decline in the stock market . So for August I am currently short SPY Aug 87, Aug 95, Aug 100 puts, and short SDS Aug 31 puts.

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

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