Buy TLT via selling Jun 89 puts, TLT @94.4. This is a rebalancing trade for the TBT/TLT strangle. The most immediate concern is that I am short TBT May 34 puts and they are close to the strike with TBT @34.9. TLT is at resistance, but this morning is breaking through. While I am underwater on my TBT positions, the profits from the TLT more than compensate, so the short strangles are net positive overall. I am already short TLT May 86 puts and Jun 85 puts.
Elsewhere, I stepped into an air pocket on SLV on Monday. The high premium lured me in and I am paying for it. I am down 120% on the value of the option in two days. Fortunately, as almost always the dollar amounts are small.
Long EEM, GDX, GLD, IWM, SLV, SPY
TBT/TLT = short strangle on TLT
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