Trade Alert 5/10/2024

We made some hedges a couple of weeks ago on our GOLD position. We bought 300 more shares and sold the May 17th (monthly) 18.00 strike covered calls against those shares. That hedge has worked out well. Not because the stock made much, but the calls have lost most of their value and we can buy them back cheap. We are removing that hedge today. Sold: GOLD 300 shares we bought a couple of weeks ago Filled at 16.94 per share Buy to close: GOLD May 17th (monthly) 18.00 strike calls Debit: 0.06 In addition, we have a 1×6 ratio spread against our original 500 stock shares. Today, we bought back 3 of the May 17th – 17 strike short calls and rolled them into next month by selling June 21st – 18 strike calls in their place. Buy to close: GOLD May 17th (monthly) 17.00 strike calls Sold to open: GOLD June 21st (monthly) 18.00 strike calls Credit: 0.02 So, after all of the GOLD adjustments today. We are back to our original 500 shares. We own 1 contract long of the May 17th – 16.00 strike call. We have 3 contracts short of the May 17th 17.00 strike calls. And 3 contracts short of the June 21st 18.00 strike calls.