Well, after a big down day, the price of gold has validated my bet I recommended to you with SPDR Gold Shares (GLD) December $120 Put options.
Those puts swung from a deep loss last week and are showing a roughly 38% open gain today. Yeehaw!
I think gold will continue moving lower next week. So, we could see that open gain grow larger. But since these put options expire at the end of next week, I’d rather not risk a loss of momentum (and premium) before expiration.
Let’s grab this gain now, and wait for an opportunity to place a new bet — a bullish bet — on gold in the coming weeks.
|SELL TO CLOSE all your December 15, 2017, SPDR Gold Shares (GLD) put options with a strike price of $120, symbol GLD171215P00120000, at the market.|
If this idea makes sense for you, I recommend you place this order as soon as possible.