Bond option trade

I almost got these done today,missed by a tick.

June bond options.

Buy 5 94/95 put spreads and sell 1 96 put for 2

credit.This is a must do trade.

Thanks,any thought regarding the option trade?

I'm bullish on the CBOE Vix here so, by deduction, I'm bearish on stocks.


And I'm also bullish on oil.


So, in some weird way, although I am bearish on bonds, I don't expect them to just go into freefall, but rather to be choppy with a ceiling.


My thoughts are


1) your play seems a little convoluted - not unlike your reaction to my CPN contraption,


2) I like it in general just because the credit, though 96 seems a little close going out to June, but I assume it has plenty of premium, and


3) I think the 94/95 spread is just right, given the time left and the current price.


I think we'll see 96, maybe a little lower, and a lot of chop.


eLROY

You do understand I would be long 5 95/94 put spreads for each short 96 put? I tried to do these

packages for 2 tick credit and could have done them flat..I might have done them flat if I was on the floor but too much slippage from home.

On an expiration basis I lose below 91,homerun is

at 94.I don't think we will free fall either.

Also if there is an "event" it is possible the bonds could stabilze or take off.