We’ll give our calendar-spread strategy a rest for now, since TLT looks like it could fall to 114.25 before it catches fire again.  There’s no great urgency about starting a new position, since the cost of the out-of-the-money spreads we’re using isn’t going to increase much if TLT rallies a point or two.  For now, however, please report your current position in the chat room so that I can get a sense of how many subscribers are participating and how you’re using my advice.  Those who have yet to take a position should view the recording of last week’s impromptu session to get a feel for the details. The relevant material begins about 11 minutes into the recording.  You should also check my previous TLT in the archive for a detailed history of the trade, especially the way in which we’ve rolled the spread each week to all but eliminate risk.