Thursday, August 19, 2010

Buy TLT (sell puts) sell IWM (cover short puts)

Buy TLT via selling Sep 98 puts, TLT @106.2. I double up on short puts as TLT continues to rally. I am also short TLT Sep 93 puts, and TBT Sep 30 puts.

Sell IWM covering short Aug 58 puts as a protective measure. There is about a 5% chance of IWM 58 with option expiration tomorrow. I am still short IWM Aug 60 puts with IWM @61.2.

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

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