Monday, August 16, 2010

Buy TLT and GLD (sell puts)

Buy TLT via selling Sep 98 puts, TLT @104.2. This is a rebalancing trade on the short strangle. The initial position was short TBT Sep 30 puts and TLT Sep 93 puts. I am a bit stunned at how far and how fast U.S. Treasuries have moved up.

Buy GLD via selling Sep 109 puts, GLD @119.6. I am also a bit surprised at how strong GLD has been. I open a Sep position to continue to have a bit of exposure.

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

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