NaughtyPines
Short

OPENING: GLD SEPT 20TH 128/130 LONG PUT VERTICAL

AMEX:GLD   SPDR GOLD TRUST GOLD SHARES NPV
... for a .21/contract debit. (Late Post)

Metrics:

Max Profit: $179/contract
Max Loss: $21/contract
Break Even: 129.79
Delta/Theta: -6.26/-.43

Notes: Put this on in the closing minutes of Friday's session. Looking for a move back to the short-term range lows ... .
Comment: I'm fairly certain that this is going to be expiring worthless. Small shot, taken too early. At least I'm not out much.
Sept 20 is a good exp date. With current uncertainty, it'll take a while to get there but it will. +1 on the range box.
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@kevb10, Pulled the trigger a little early in 20-20 hindsight. But if I'm totally wrong, I'm not out much ... .
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Nice range box buddy.
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NaughtyPines Bullandbeartrading
@Bullandbeartrading, Thanks. You doing anything in Cable? I don't trade spot, but could see doing something in either /6B or FXB at these lows (different ways of skinning the same cat). :-)
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