Buy GDX via selling the Sep 38 puts, stock at 44.14. Strike price of 38 is the breakout point. Some may question why I am increasing my gold position, instead of hedging my profit. This move looks the real McCoy. Seasonality, sentiment, technical, fundamental indicators are all lined up to the bullish side. Of course that doesn't guarantee a winning trade, but a trader sometimes might wait for months or years for everything to line up like this. When that time comes, take a shot.
Long GLD, GDX
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