Thursday, October 10, 2013

Sell GLD strangles (puts and calls)

Sell GLD Nov 106 puts
Sell GLD Nov 144 calls
A short strangle is a bet on a trading range. This one is far out with tiny premiums. Some may ask why bother? The premiums are tiny, but I have buying power and don't think I will find that many new positions to take before October expiration.

Massive rally in stocks today, thank goodness, as the red ink was getting rather deep.

Long AMGN APC BA BRKB GDX IWM KORS LGF NKE XRT
Net long GLD SPY

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