#ShortPuts #CoveredCalls #SyntheticCoveredCalls – Letting go of XBI stock this week and probably SPY next week (unless we have a massive selloff). With SPAXX money market (Fidelity cash sweep) paying close to 5 percent cash is king. Layer a little put selling on top of that and continue building a long bond position for the inevitable rate cuts.

TLT: A variety pack. Covered, synthetic covered, and adding to short puts.

Bought to Close TLT JUN 09 2023 103.0 Calls @ .01 (sold for .59 and .74)
Bought to Close TLT JUN 09 2023 103.5 Calls @ .01 (sold for .57)

Sold TLT JUN 16 2023 104.0 Calls @ .28

Sold TLT JUN 16 2023 103.0 Put @ 1.34
Sold TLT JUN 16 2023 104.0 Put @ 2.08

XBI: Goodbye and hello.

Stock will be called @ 79.50 (basis 75.25 and many many calls sold against) Thanks old buddy!

Sold XBI JUL 21 2023 85.0 Put @ 2.00

================================================================

“Bonds should once again offer hedge and diversifying potential in portfolios that have riskier allocations, given the considerable room for rates to rally in the event of a growth shock and/or if the Fed pivots and eases, as well as the yield cushion being a multiple of years prior.”

https://www.nasdaq.com/articles/the-great-yield-reset-bond-etfs-and-the-generational-opportunity-in-fixed-income