Ramie 9:26 am on Tuesday, July 23, 2019
Tags: ContangoETFs ( 446 )

DRIP Dec

Some new strikes opened up so I’m getting one on the books. Sold $DRIP Dec 115 call @ 8.50. 115 is now the highest strike.

Jeff 9:45 am on Tuesday, July 23, 2019

Thanks, followed with one for 8.60. $NUGT hit a new high today but is kind of stalled since reaching above 35.00.

#ContangoETFs
- Ramie 10:27 am on Tuesday, July 23, 2019
  
  Re $NUGT all we need is a couple of big down days with some magnitude and that magical volatility drag will come into play.
jsd501 9:54 am on Tuesday, July 23, 2019

Thanks for the idea, I followed at 8.60
fuzzballl 10:49 am on Tuesday, July 23, 2019

Thanks!

Sold DRIP DEC 20 2019 115.0 Call @ 8.55
fuzzballl 10:57 am on Tuesday, July 23, 2019

Some interesting data:

DRIP Split History

03/24/2016 4 for 1
08/25/2016 1 for 5
06/28/2019 1 for 5

The fund began on 5/29/15. Just a few days after that oil continued it’s drop from 60 to 26 almost immediately. It (oil) had been as high as 110 just weeks before the fund was born. That timing was the reason the fund actually had a regular split early in it’s life.

I guess we could go from 60 to 26 again and possibly see the 115’s take some heat. I’m betting against that with all the turmoil in the middle east right now.