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Politics : Welcome to Slider's Dugout
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From: SliderOnTheBlack5/20/2010 11:02:11 AM
1 Recommendation   of 50456
 
GDX $40 Jan '11 Puts up another +20% again today...

Just one strike, and just one example among many,
on why you MUST learn to use options as hedges if
you're a gold bug.

Volatility isn't ever going away from the
commodity sector.

You have two choices as a trader:

Learn to use volatility, or keep letting it use you.

finance.yahoo.com

GDX Jan 2011 40.000 put(OPR: GDX110122P00040000)
Last Trade: 3.65
Trade Time: 10:29AM EDT
Change: 0.60 (+ 19.67%)
Prev Close: 3.05
Open: 3.65
Bid: 3.85
Ask: 4.00
Day's Range: 3.65 - 3.65
Contract Range: 1.85 - 13.40
Volume: 6
Open Interest: 28,654
Strike: 40.00
Expire Date: 21-Jan-11

GLD $90 Jan 2011 Puts also up another +14% today...

finance.yahoo.com

GLD Jan 2011 90.000 put(OPR: GLD110122P00090000)
Last Trade: 1.30
Trade Time: 10:33AM EDT
Change: 0.16 (+ 14.04%)
Prev Close: 1.14
Open: 1.30
Bid: 1.35
Ask: 1.48
Day's Range: 1.29 - 1.30
Contract Range: 0.79 - 25.20
Volume: 60
Open Interest: 32,326
Strike: 90.00
Expire Date: 21-Jan-11

We only need another day, or two like this for the premiums
on LEAP put "sales" to start looking very attractive again.

Cash in and cover puts, then begin to "sell" puts as we
transition back into a re-load mode.

Wash, rinse, and repeat.


......................."V" for Vengeance & Victory Over Volatility

SOTB
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