Here’s a tangential approach to trading TLT using the pair dynamics of XLF and TBT (the double short TLT ETF).  The pair has a bit of beta differential but the 14 day average excursion makes it a swing trader’s delight.  The equity curve of this simple pair is also very attractive with only 1 losing trade in the last 8 months.  Market Rewind subscribers can fire up the XLF/TLT pairs model analysis to see why XLF/TBT is clearly the better choice. The option chain of TBT is actively traded with impressive open interest and narrow spreads…a good compliment to XLFs similar option features.