TLT, the popular 20-year bond ETF, is sitting right back on resistance turned support after bouncing off the $121 level last month. This is the third test of the level, which is usually a pretty important one. We believed in put-selling last time this happened, and we’re in favor of it again - we’ll be looking to the put spreads between $115 and $118 in October for trade ideas today and tomorrow.

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