Buy GLD via selling Oct 143 puts with GLD@171.0. As gold has rallied, my delta on the short puts gets smaller and smaller. I open a small October position. GLD is a bit overbought in here, so I am going way out of the money on the puts.
As for the stock market, these few days feel like the eye of the hurricane, with more volatility on the other side.
Long EWZ, GLD, PFF, SPY, TLT
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