Buying Swing: buying GLL at 9.27-.30 OVERSIZED and selling G
Posted: Wed Mar 03, 2010 3:34 pm
Buying Swing: buying GLL at 9.27-.30 OVERSIZED and selling GLD 109 and 108 calls . This is the first reentry on GLL bearish gold et since exiting GLL at 10.00 last week when we went bullish. Am also selling the 108 GLD mar calls we entered into at 2.16 at 4.20-.25 areas partial clears so far just shy of 100% profit 96% profit, BIG smiles. Am also looking for exits on the 109 calls we entered into at 1.80 at 3.50 area witch would be 94% profit. When options are this lingt and spreads so big its good to be patient and use the l2 to progressively enter or exit the options. I see multiday direction on the verge on my formulas of going negative and am repositioning bearishly gold with mental stops on GLL at 9.20 . The multiday negatives are on the verge of clearing but have not yet cleared on GOLD.