Sell SPY backratio

Sell SPY backratio
buy SPY Jul 115 puts SPY@129.9
sell 2x Jul 110 puts for a net credit

I like to sell these backratios when volatility is up. This is net bullish (delta positive), with the twist of a max profit if SPY drops to 110 at July expiration. Starts to lose money with a drop below 105. If SPY goes up or is neutral, I pocket the small premium.

I closed my at risk positions on Thursday, all the others look to come in okay with less than 10 minutes to go. I'll post a monthly recap after the close.

Long AMGN BRKB GNC LGF TLT
Net long AMZN IWM SPY