Michta 2:37 pm on Thursday, February 11, 2016

GOLD

Just wow. No end in sight. Few Call spreads and a June 72 call hurting, but broke even on the day because I bought a 1300 next week /gc call@1.70 last night and sold it today @10.90

Ironically, it matched the loss I have in a few of my NUGT position to give me a break even day in gold.

1400 in gold seems probable soon at this rate.

fuzzballl 7:22 pm on Thursday, February 11, 2016

Nice trade on the /GC. I get so focused on the futures themselves I forget about the futures options. Aren’t those 1000 dollars per point? Great job! I wanted to go long with a breakout above the 200ma and totally forgot about the options…get ’em next time!
- fuzzballl 7:29 pm on Thursday, February 11, 2016
  
  Oops…100 per point sorry. Had to do a little research since I normally trade /ES and /VX. Awesome trade!
  - Michta 7:44 pm on Thursday, February 11, 2016
    
    I normally trade 1-2 calls or puts 90-100 above or below current price in a trending move. The max loss is minimal for my little 30k account, but the upside can be real nice.
    
    The downside is this will not work well in a normal sideways small bias up or down market. It just decays. Right now there’s obviously no issue with that in gold.