Perhaps we’ll get a chance to buy this vehicle on weakness after all. A recent story in the Wall Street Journal said portfolio managers were preparing for Fed tightening in 2015 — exactly the crowd we should want to bet against, since they’ve been mostly wrong for, like, 20 years. If TLT gets within 0.04 of the 118.39 correction target shown either today or tomorrow, try buying eight Jan 2 121 calls for a price midway between bid and asked at that time.
