We have been holding onto this Jun TLT Put now for 10 days. The gains are healthy, but at +45%, not large enough yet to merit taking gains. Revisiting our goals from the Apr 1st Trade Alert: "Let's not overthink this too much, interest rates higher, bonds lower, TLT Sell Signal, looking for a quick triple digit winner and maybe multiple triple digits (400%) if, as the EW count in the chart below suggests, price falls into the mid-to-low 80's." TLT A close below 90.00 would be highly suggestive of the mid-80's, taking the Jun $93P into the 8-10 range, for a 300%-400% return, something more to our risk:reward liking as per recent GLD and BITO calls. Let's hold out for that, maintaining a 50% trailing stop just in case we are wrong about the bottom falling out of Bonds. QQQ Preliminary Sell Pending - Needs to break below 430 next.
