Buy GLD via selling Jun 146 puts @156.6
I take a small position in gold for a small premium on today's pop up. Recent low was 148, so 146 gives me some room.
Stock market falling. I look at several things, but for now do nothing. I am not that nimble, and the next Greek election on June 17 will likely hang over the markets for the next two weeks. I still have a lot of dry powder, but don't see any need to get in when the water is so turbulent.
Using hindsight goggles, I wish I were more aggressive in being long bonds. It is hard thing to do when the long term fundamentals look so poor. Option traders often do better by ignoring those factors because emotion, sentiment, momentum tend to be much more relevant factors in the short term.
Long BRKB, GLD, GNC, LGF
Net long IWM
Net short SPY