Buy SPY via selling Sep 94 puts with SPY@121.0
This morning stocks, bonds and gold are all up, possibly due to the Wednesday before option expiration. The more cynical might say it is the PPT (plunge protection team) propping up prices. Despite the relief rally, the way out SPY puts are near 50% volatility. While I expect lower lows, I expect support at SPY 105 to be significant.
My broker ThinkorSwim did a clearing firm transition due to the merger with TDAmeritrade, and it is causing headaches. Mostly I've been very happy with TOS, but these few days have not been pleasant.
Long EWZ, GLD, PFF, SPY, TLT
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