Synthetic short stock with disaster long calls (16.50 debit)
Sold NUGT JAN 18 2019 42.0 Calls
Bought NUGT JAN 18 2019 42.0 Puts
Long call for possible disasters capping potential losses:
Bought NUGT JAN 18 2019 47.0 Calls
Buying the disaster calls pretty close to help with margin requirements if she spikes with not much effect on long term gains.
Weekly put sale against synthetic short stock to really boost the profits on this trade:
Sold NUGT SEP 15 2017 40.5 Puts @ .84