Traders Playground

Selling Swing: selling 1/2 GLD 120 puts at 3.60 area at over 200% pure profit from 1.15 initial entry. I remain very bearish on gold and the GLD gold etf but wish to here start locking in profits as I see a significant intraday positive on my formulas here on the verge of clearing but it has not yet cleared. The strategy here is to lock in a good deal op profits with the intent of buying back more expensive or moving into june puts if weakens here remerges and this formula dose not clear positive.On the flip side if this positive dose show follow trough then will ither exit the remanning stake or hold of for multiday direction to tern, for so far multiday direction remains bearish but we are now starting to approach multiday oversold levels on gold.