Buy to close: NEM May 17th (monthly) 37.50 strike call
Sell to open: NEM May 17th (monthly) 40.00 strike call
Debit: 1.20Sell to open: NEM May 17th (monthly) 42.50 strike call
Credit: 0.57We own a 1×6 call spread in GOLD because we own 500 total shares. Today we bought 300 more shares to “hedge” the expected continued sideways/higher price action in the stock through May expiration. This will make better of the spread if the stock is to finish at 18.00 per share or higher.
Bought 300 shares of GOLD at 16.92
Sell to open: GOLD May 17th (monthly) 18.00 strike calls
Credit: 0.34
This is only for those willing to increase their overall position size in GOLD stock.