Hello Investors,
Today we really dug into the Gold markets. We looked at the long-term trend of Gold. The huge cup & handle that has been forming since the 2011 peak. And most importantly how we wish to play the market in the coming months. We also updated our trades going into November options expiration this weekend.
New Trade Idea in GLD as follows:
Buy to open: GLD Jan 19th, 2024 (monthly) 180.00 strike call (ratio of 1)
Sell to open: GLD Jan 19th, 2024 (monthly) 190.00 strike call (ratio of 2)
Buy to open: GLD Jan 19th, 2024 (monthly) 200.00 strike call (ratio of 1)
Debit: 2.25
Max risk = 2.25 or $225.00 per spread
Max reward = 7.75 or $775.00 per spread
Have a great week