MJ--
Yes, I concur. I got a premium of 9% to hold for 2 weeks. I already owned some extra puts and wanted to purchase extra shares to go along with those, knowing that I would likely be selling some shares at 35 in 2 weeks. Interesting in that GG got caught in the downdraft on Monday with the rest of the stock market but today seemed to follow the gold price somewhat. You just never can predict what will occur. Better to react. I plan on picking up some November GG puts in the next two weeks and selling some calls on any major spike north of 27.5. Will see if it gets there.
DRYS sure is taking it in the shorts. The nice thing is that when the puts are exercised, I will have some cash available to begin to nibble back in as I wait for the bottom, increasing my positions as the turn takes hold. May have to wait a year or two or three or ....
Yes, I concur. I got a premium of 9% to hold for 2 weeks. I already owned some extra puts and wanted to purchase extra shares to go along with those, knowing that I would likely be selling some shares at 35 in 2 weeks. Interesting in that GG got caught in the downdraft on Monday with the rest of the stock market but today seemed to follow the gold price somewhat. You just never can predict what will occur. Better to react. I plan on picking up some November GG puts in the next two weeks and selling some calls on any major spike north of 27.5. Will see if it gets there.
DRYS sure is taking it in the shorts. The nice thing is that when the puts are exercised, I will have some cash available to begin to nibble back in as I wait for the bottom, increasing my positions as the turn takes hold. May have to wait a year or two or three or ....
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