It's Friday, and the last trading day of September ... . Here's what's at the top of my IV screener in the exchange-traded fund space: TQQQ, IVR/IV 23.3/64.2% GDXJ, 22.7/36.4% (2.52% yield) FXI, 12.5/33.4% (2.26% yield) EWZ, 11.1/31.9% (10.9% yield) GDX, 26.0/31.5% (2.23% yield) You'll notice that everything is still pretty much in the lower one-quarter of the...
Given USD strength and the sustained pressure of ever-increasing US interest rates, gold has been taking it on the chin. However, we’re getting into buy levels/demand where it may be poised for a near-term recovery. Keep tabs on gold (spot, futures, GLD), but if you see signs of accumulation/trend reversal (use small timeframe charts), consider climbing aboard....
It's Friday and a Triple Witching to boot! Well, IV isn't great here pretty much across the board for us premium sellers. Nevertheless, if you must play (and some of us gotta), here's what's shakin' ... . Broad Market QQQ, .8 IVR, 17.8% 30-day IV, with the shortest duration in which the <16 delta is paying greater than 1% of the strike price: December...
It's Fryyyydayyyy ... (which is when I tend to do all my "stuff"). Well, unless you've been hiding under a rock (no judgment here), you'll know that premium-selling in broad market isn't very good here, with IWM IVR/IV at 12.3/19.7%, QQQ at 9.1/20.1%, and SPY at 6.8/14.4%. That sub-25 IVR is telling you that broad market IV is in the bottom quarter of its...
... for a .72/contract credit. Comments: One of the higher IV underlyings in my options liquid ETF screener at 34.4%. Going a little more aggressive here, selling the 25 delta strike. Will generally look to take profit at 50% max and/or (a) roll down and out for a credit if tested; or (b) take assignment of shares and sell call against.
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The VanEck Junior Gold Miners ETF (ticker: GDXJ) has entered a certain minefield here. Our short-trade target zone has already been dealt with and the corresponding high of the turquoise wave (ii) was placed accordingly within said zone. We are now anticipating further impulsive sell-action in accordance with the general bearish trend. If the bulls want to start...
It has been more than 6 months since I looked at GDX proper. Yes, I might have missed the last Gold/GDX rally, but I think that short run is about over... Looking at the weekly chart for GDX, a decisive lowest close since March 2023 is representative of a end of a bull trend, if it is not already obvious enough. The near marubozu type down candle came after a...
I see $3.85 to $5 dollars on the roadmap for this beaten #Miner Much like in #Crypto the miners lag the underlying commodity UNTIL a high range has been established then the speculative fervour starts to filter through into these low cap gems.
With broad market implied volatility having crushed out mightily over the past couple of weeks, I'm left scrounging around in the exchange-traded fund and/or (ugh) single name space for premium. There aren't a lot of underlyings with ideal IVR/IV metrics to play, but there are a few things that still have decent IV in them, even if it isn't toward the top of its...
So many indicators and time frames are bullish GDX right now with bull divergences and montly MacD cross. Classic cup n handle formation with a backtest of cup in progress. Im no EW guru but it looks like we are at the beginning of wave 3. Good RR here with a stop at $31. Let me know what you think of analysis. Cheers.
Which instruments behaves like Silver? Just have a look at the 90% Correlation to Silver. If you are bullish on Silver, you have to be on GDXJ as well.
The bear leg could have probably ended. Confirmation should come next week if it begins to move up sharply as I think. In short term (two weeks) back at 38$ And probably end of May back to 48$. Again GDXJ is on major support and this last week was a tipical shaking move before a large one. The sector is moving up, and up, but remenber always that corrects in a...
Keep an eye on GDX and GDXJ, the two most popular gold mining ETF's. We have a confluence of the anchored vwap from the April 2022 highs meeting the 200dma. If history repeats we could start to see gold miners gather a bid here for the next move higher. Gold price is holding up at the 38.2% fib + yearly pivot, so im watching closely for another rally at these...
XAUAAUD - Bullish rising wedge. Rising wedges can be bearish or bullish. Likely, long term trend consolidation, prior to next bullish breakout.
XAUUSD Gold - Bullish Cup & Handle. Also, rising wedge pattern.
This incredible rally in Gold won't really end until prices reach levels above $2250. My target is closer to $2400 - but we'll see how things play out. Overall, Gold moves in $350 price phases. From recent lows, the top of that $350 price phase is near $1985. I would suspect a moderate pause/pullback after reaching the $1985 level. The low of that...
This has reached a bit too consensus for me. Fading/closing longs on Gold/gold miners.