Selling Swing: selling ALL GLD 108 puts at .32-.30 then at .
Posted: Fri Mar 19, 2010 11:26 am
Selling Swing: selling ALL GLD 108 puts at .32-.30 then at .36-.30 SHORTING 2X OVERSIZED [SELLING TO OPEN] Gold today dropped dramatically so its an opportunity to take a less of a loss on the GLD puts that were just 2 cents yesterday back here but it was a play from .80s so strong loss. But to make up the losses the strategy is here to for a day trade use this new premium spike to short these same puts 2X OVERSIZED. obviously with gold falling like a rock today such a move is HIGH HIG HIG RISK, but I do not think that they will allow this etf nor gold reach levels that would bring GLD below the 108 strike point. Again high risk but today being expiration this bet is for a premium loss to be dramatic as she now slows her decent to only continue the gold fall next week but stalling today . let her continue the fall after options have let go of the control of the markets they today have.