Synaptic724
Long

RGLD Long Position Potential Breakout

NASDAQ:RGLD   ROYAL GOLD INC
RGLD is trending apart from the SPY its not overly effected by the market movement, Breakout past $80 holding till $90 Bought a call Strike $80 at 2.45 exp jan 18 with a stop at 1.25.
Today it signaled a false breakout as it printed a gravestone candle. I closed both my calls for a +$35 profit. $55 for the first one and -$20 for the $82.5 strike.
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Synaptic724 Synaptic724
@Synaptic724, if it falls under $80 I will engage in a put and see if it reverses
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Synaptic724 Synaptic724
@Synaptic724, Put purchased at $2.7 $80 strike
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Synaptic724 Synaptic724
@Synaptic724, bought a 2nd put at $79 Strike $77.5 $2.20
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Synaptic724 Synaptic724
@Synaptic724, everything reversed closed both at at loss of $40
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Synaptic724 Synaptic724
@Synaptic724, in hindsight I completely forgot that gold trends opposite the spy. This reaction is normal. This taught me that no matter how sure I am in the market. There is never 100% certainty. I closed both at $80
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Bought a 2nd call for $2 strike $82.5
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