GDX options 1/31 expiry, 27/31 Put Credit Spread.
Adding to position with another spread based on chart.
Gaussian channel confirms current trend is .
Price in consolidation before further upside IMO .
Multiple gaps to fill.
Market at all time high with any pullback GDX will go higher.
Trend dots confirm Daily and Weekly trends both with room to run.
Today’s Order – 1/31 Expiry. 29/33 Put Credit Spread. $3.00 credit or more. May go down to $2.90. Risk $110. Reward $290-300. POP around 70% for total strategy.
Stop loss at GDX $29.00
Must exit before expiry on 1/31. Hold maybe a week. Exit at 50% profit, gap fills, or your risk tolerance.
For those looking to hold stock instead of options, I would consider this a good entry for 3-6 month horizon (~10%+ return in my estimate).
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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website https://www.moneypatterns.com and have updated my name previously jbird7839. Same guy - new name. :)
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Disclosure - I am long BTCUSD , GBTC . Short term GDX , SPXS