Traders Playground

Buying Swing: buying GLD 116 May calls 2XOVERSIZED at 1.13-.16 and selling the rest of the GLD 120 May puts at 3.60 locking in the 200% plus profits, these calls hit a high of 4.70 today but I wished to hold till now when a new multiday reversal seams to be setting up. today the markets fell across the board and so did GOLD but I am here expecting some as they say fear play buying on gold due to the larger across the board weakness and economic fears. Huge smiles to one and all who went bearish GOLD last week for we called the top of GOLD to the very day and yes I got bombarded with emails that day for so men saw its fall as so unlikely. I remain larger picture bearish gold but am expecting a 2-4 trading day bounce to here come on GOLD before again reentering bearish bets on her. This is ofcorse high high risk calls for these calls expire tomorrow and premium if 116 serves as the options magnet would kill the premium on her, but again a bounce possibility trading against the fear and for the so called flight to safety brings about a unique opportunity