Actually I interested in options more than , so, I prefer to use PUT rather than short. the GLD is under long-term-bearish trend as EM 30 showed. After reviewing most indicators I found no any significant signs of reversal or weaken trend. So, I suggest to buy PUT option of GLD for Sep strike 120 near to 2.5$ to make more than 100% profit. the target is somewhere near to 116$ and the stop loss will defined later but can't be higher than 127.8$.