Kelly 8:19 am on Thursday, May 12, 2016

$NUGT

2 days in a row, spike higher for 30 min’s then crater.

fuzzballl 8:25 am on Thursday, May 12, 2016

After reviewing the last couple weeks of trading here, I’m liking the Iceman strateegery of the weekly wide strangles. Sell about 10 days out 100 wide for close to 3 bucks. Looking now at the May 27 65/165. Probably will wait until next week when I’m feeling safer with my 75/145 for next Friday.
- Addy 8:32 am on Thursday, May 12, 2016
  
  Hi fellow, what ticker? Sorry I was away for over a month and do not know what happened during that time.
  - fuzzballl 11:30 am on Thursday, May 12, 2016
    
    Hi Addy…referring to NUGT
- vxxkelly 8:58 am on Thursday, May 12, 2016
  
  That’s the approach I’ve been taking any time I’ve had to role a position. I’ve been very careful about entering new positions for the past couple of weeks. If I sell a call, it is no further than 3 weeks out and only when $NUGT is high. If I miss the opportunity, like yesterday and this morning, so be it. Like wise I’m entering puts on the spikes down like earlier this week. At this moment, I want $NUGT below $90 before looking at put sales and near $110 before looking at call sales.
  
  At this moment, I could sell a May 20 $150 call for about $0.90 and that would be a high probability trade. But we’ve seen many a high probability trade blow up on us over the past month. We finally have strike prices currently high enough to give us some comfort, but we’ve seen 50% moves in 3 day’s.

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