I do damage control on my GLD call calendar spread. I roll down the short Apr calls, buying back the short Apr 185 and selling the Apr 178 calls with GLD@166.2. This moves me to about delta neutral. I am still long the May 185 calls.
/edited 3-2: GLD position negative delta, so slightly short
I moved BRKB and IWM to the near delta zero area. I am short way out of the money March puts on these two. A steep decline might bring them into play, but I no longer benefit from up moves.
Long APC IBM MCD SPY XRT
Neutral GLD
/edited 3-2: net short GLD
* long BRKB IWM
* short GDX
* delta is near zero on these positions
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