Friday, May 25, 2012

Sell IWM (sell calls)

Sell IWM via selling Jul 85 calls @76.6

I am now short strangles (both puts and calls) on the Russell 2000 ETF. A short strangle is a bet on a trading range. There is not much premium in the 85 calls. I see 85 as big time resistance if there is a rally. I am still net long IWM.

I am tempted to short strangles on SLV too, but my trading history with silver is spotty at best.

Net long IWM, SPY

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