IEF, Barclays’ 7-10 year treasury ETF has been trading in a 102 to 105 range since October. When the market is down it has been trading near 105. I put a call credit spread in place, betting that IEF would stay below that 105 level for the rest of this week. I sold S105 calls and bought S106 calls for a net credit of $0.20. My offer at the time was close to the mid point between the asked and bid prices.