Opened: TLT June 17th 2 x 171/153 Put Back Ratio Spread

... for a 36.45 debit.

Comments: Another put back ratio spread, this time longer-dated. Buying 2 x the 75 deltas and selling 1 x 50 delta to create a -100 delta short position in 20+ year paper on strength here. Will look to take profit at 110% of what I put it on for.