Buying Swing: adding GLL at 9.94 OVERSIZED and GLD 105 Mar P
Posted: Tue Feb 23, 2010 11:00 am
Buying Swing: adding GLL at 9.94 OVERSIZED and GLD 105 Mar Puts at 1.06 areas both OVERSIZED. Obviously this is a strong bearish gold bet with us already holding a 1x oversized GLL gold ultrashort position this brings up the stock stake to a 2X oversized stake that mind you, according to my discipline means a 10 times the money allocation of a equivalent options position. This is my first bearish option bet on gold for the coming months expirations. I feel gold is showing great weakness and as U know I am very bearish mid and long term. no mental stops on these positions.