Buy SPY via selling Apr 116 put SPY@137.1
I open a small position for April. Again, the temptation is to be more aggressive by selling closer to the money puts. With the stock market over bought it doesn't seem like the best time to be aggressive. The operating hypothesis remains no stock market crash for 2012.
Long APC BRKB GLD IBM
Long IWM MCD SPY XRT
* short GDX
* delta is near zero on this position
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