AMEX:GDXJ   VANECK VECTORS JUNIOR GOLD MINERS ETF
3 months ago
.... for a .67 ($67)/contract credit.

This and $GDX are currently probably the highest implied volatility exchange-traded funds, so I'm just selling a little premium here without taking on the upside risk that doing a strangle would entail.

That being said, I'm fairly sure I don't want to be put GDXJ             at 45 (lower would be preferred for a long position), so I will watch it and roll down and out to an expiry in which I can get a credit for the roll in the event price poses a threat to the short put ... .
3 months ago
Comment: Selling the 56 short call against for an additional .73 ($73)/contract credit, making it into a 45/56 short strangle. The reason I'm doing this is because I want to sell a short put in TEVA and don't want to have too much naked put out there in the event of a market downturn ... .
3 months ago
Trade closed manually: Covering here for a 1.05 db; legged into for a total of 1.40 in credit; out for 1.05; $32 net profit/contract. Intended to hang in there until at least until 50% max, but have my eye on other stuff that the buying power can be used on ... . GDXJ also isn't the most liquid bugger in the world.
baerrus PRO
3 months ago
Watch out for ADR stock like TEVA. Most of their moves are overnight so less opportunity to adjust. Learnt the hard way.
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NaughtyPines baerrus
3 months ago
Oh, agreed. I usually don't like to do ADR's at all, but premium has been so hard to come by of late ... .
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