This morning's gap up in the GLD June 19th $114 call position has sent it up 98%, this unfortunately will allow me to close the position with a slight gain rather than a deep loss which is an opportunity I'm going to take being expiration is next week and that's a big gap, it's just too close for comfort.
There's still a $115 call that I'm leaving open and giving some room, but for now Ill be closing the $114 and regrouping, seeing what signals look like with this large gap and possibly re-enter a new position that has more than a week of expiration left on it.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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