Tuesday, September 28, 2010

Buy SPY and GLD (sell puts)

Buy SPY via selling Nov 91 puts, SPY@114.4. I add to my long SPY position. Despite the market rally there is still quite a bit of skittishness in the option premiums.

Buy GLD via selling Nov 113 puts, GLD@127.7. Gold futures fighting through the $1300 round number level. Yes, it is extended. My Oct position is approaching delta zero, so opening a Nov position continues to give me a small exposure.

Long BRKB, GLD, SPY, TLT

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