J,
XAU has a tech support around here, which is a major 93 low. I can see no other reason they're rebounding. But they can rebound more, much more. I was playing puts on PDG, NGC, etc since early 96. Of these, NEM looks like a best candidate play here. But, in generall, they been falling almost every day for a while, and IMHO are due for a ~ month in rebound, perhaps to ~35 on NEM. So, at this time I'd rather play em long, if at all. OR, can sell puts, if there is some volatility premium. Selling Feb puts is probably a no lose kind of game, which will result, no doubt, in US Fed selling all Fort Knox gold as soon as you sell these puts.
J+ |
