Being more of a long-term trader, holding positions for between 20 and 35 days, I'm kind of the view that SPY is in a long-term side sideways formation ... .
With the IVR in TLT remaining relatively high (82; 6-month Dough), I'll be looking at TLT for a play this week (Aug 28 expiry). The current 1 SD lines are at about 123 on the call side; 109.50 on the put side, and it's ripe for a potentially productive short strangle (109.5/123 short strangle; Aug 28 expiry; 1.44 credit; BE's at 108.06 and 124.44). The natural...
Nothing much has changed this week in terms of my view regarding where to set up the strikes for short call verticals for SPY (short leg at 213/long leg at 216-7) either as a stand-alone strategy or as part of legging into an Iron Condor. For the short put vert end of things, I'm generally relying on the software to guide me there, with the short put strike at...