Monday, March 05, 2012

Buy IWM (sell puts)

Buy IWM via selling Apr 69 puts, IWM@80.1
I am already short Mar 70 puts which look to be safe. There is the 50 day moving average as well as trendline support at 79. IWM has already declined a bit from its highs at 83. 79 would already be a 5% decline from the highs. There is more chart support at 75 and then 70.

Long APC IBM MCD SPY XRT
net short GLD
* long BRKB IWM
* short GDX
* delta is near zero on these positions

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