Friday, July 08, 2011

Buy IWM (sell puts)

Buy IWM via selling Aug 75 puts, IWM @84.8. I open an August position in short IWM puts, adding modestly to stock market delta long. I've been looking for a one or two day smash down in the stock market. August often is a more volatile month, but I have some margin for error by selling puts so far out of the money.

Long GLD, IWM, SPY, TLT

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