Ramie 8:46 am on Tuesday, May 24, 2016

Rolling NUGT

Strike price was breached and with downward momentum I thought I’d roll to a strangle instead of a straight put roll.

Bought to close $NUGT Jun 3 78 puts @ 7.74
Sold to open $NUGT Jun 17 57 puts @ 2.76
Sold to open $NUGT Jun 17 92 calls @ 6.99
Credit taken in: 2.01

vxxkelly 8:59 am on Tuesday, May 24, 2016

I’ve been virtually always been rolling into strangles when dealing with $NUGT. I like the positions better than what I can do with just straight roll’s.
fuzzballl 8:59 am on Tuesday, May 24, 2016

I like it…

Bought to Close NUGT JUN 3 2016 75.0 Put @ 6.50
Sold to open $NUGT Jun 17 55/105 strangle @ 6.85
- vxxkelly 9:03 am on Tuesday, May 24, 2016
  
  Nicely done.
  - fuzzballl 9:07 am on Tuesday, May 24, 2016
    
    Let’s hope…this thing could be back to 90 by end of day. Finally trading under the 50 so possible resistance now?
    - vxxkelly 11:01 am on Tuesday, May 24, 2016
      
      I’m trying to stay very small for the June 17 expiration since the FMOC is that week. That could make for wild moves in Gold and thus the miners. Currently only have $55 puts and $155 calls (result of a roll) that week and not in any hurry to add either calls or puts.