Yea this could be pretty ugly if breaks here
Gold has walked on down to sub 1700....just broke after the Feb Jobs number down to 1690
Maybe this is the final flush out before Gold regains a bid on some inflation worries...
Though it really doesn't seem to care about that
Either way I'm getting long GLD calls here for a move back up towards 165 where there is a large open interest in the options market for March opex
If need be this trade will become a short credit spread real quick especially if USD shows continued strength
Gold has walked on down to sub 1700....just broke after the Feb Jobs number down to 1690
Maybe this is the final flush out before Gold regains a bid on some inflation worries...
Though it really doesn't seem to care about that
Either way I'm getting long GLD calls here for a move back up towards 165 where there is a large open interest in the options market for March opex
If need be this trade will become a short credit spread real quick especially if USD shows continued strength
Note
Unless GVZ gold vix starts to rise I think Gold stalls here...If it was going alot higher GVZ would be increasing
I took smaller profits than i'd of like because I legged into a call debit spread the day before the rally...reduced delta risk...disappointed
May re-establish new position 165 call calendars at some point
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.