Shorting Today's Rally via SPY Bear Call Spreads

7/18/12
Closing out the call side on the slight pullback today.  Market just acting too strong.  Total loss is $560 but will be rolling out to August.

Trade:
BTC SPY July 12 136/139 bear call spreads for ($1.33-$0.07) x 100 x 10 spreads = $1260 paid vs. $490 received = $770 loss

7/2/12
Closing these out today.

Trade:
BTC SPY July 12 126/123 bull put spreads for ($0.17-$0.08) x 100 x 10 spreads = $90 paid vs. $300 received = $210 profit

6/22/12
Market has been acting stronger than I thought it would since putting on the call spreads.  Got the big pullback I was looking for yesterday though.  Added put spreads to condor the initial trade and help hedge against more upside.  Keeping the strikes below the low from earlier in the month and more than 3 ATRs away.  Also staying under the Bollinger band as usual.

Trade:
Sold SPY July 12 126/123 bull put spreads for ($0.74-$0.44) x 100 x 10 spreads = $300 premium received

6/5/12
Don't see today's rally as much more than an oversold bounce at the 200-day sma.  As last week's macro data showed us, global fundamentals are deteriorating, not improving.  Greece and the EU is still the issue it has always been.  This will continue to be my stance unless we get some news of a Greek/EU deal, QE3, Operations Twist, etc.

Am going to keep an eye out for another big down day to sell bull put spreads below a long-term support line.

Trade:
Sold SPY July 12 136/139 bear call spreads for ($0.82-$0.33) x 100 x 10 spreads = $490 premium received