The market has been boringly non-volatile lately. I'm willing to bet that will change when the bank stress test results are released in a few days. Some big shots are going to be scrambling for capital to avoid losing their jobs.
That's why I'm doing something with my Alpha-D portfolio that I haven't done in a few months. I just sold some puts (covered by cash) on the CBOE Volatility Index. These are Jun 09 puts at 30, so I'm assuming that the market will be at least as volatile as it is now (which isn't much) for another month and a half.
