Is GOLD $GLD going to make a move to the upside!?
Updated
Is gold going to make another move?!?
I think it might. First off with everything going on both in the USA, along with the Ukrainian & Russian war. I think gold (GLD) might be heating up.
If you look at the flow into options, I think it might suggest a very BULLISH future for gold, I mean its been consolidating on the weekly for a while now, and looks absolutely primed on the monthly.
I have listed 3 Targets (Options based):
#1 $187.41 - $188.65
#2 $194-40 - $197.00
#3 $200.00 - $205.00 is a lottery (holding over a few contracts from target #2)
Longer term I could see this hitting $220.00+, but at the current moment we will just play what is in front of us.
I think it might. First off with everything going on both in the USA, along with the Ukrainian & Russian war. I think gold (GLD) might be heating up.
If you look at the flow into options, I think it might suggest a very BULLISH future for gold, I mean its been consolidating on the weekly for a while now, and looks absolutely primed on the monthly.
I have listed 3 Targets (Options based):
#1 $187.41 - $188.65
#2 $194-40 - $197.00
#3 $200.00 - $205.00 is a lottery (holding over a few contracts from target #2)
Longer term I could see this hitting $220.00+, but at the current moment we will just play what is in front of us.
Note
I don't always follow the "flow", but on this one I would probably have to concur, and pick a strike date a little farther out then I typically would. Not only to save on theta decay, but to as well maximize gains. I would most likely as well play shorter term contracts for a boost (both directions). I am confident we will still hit target #1 short term in fact I would move the top part of the target #1 to $190.00.
Below in the photo you see more golden sweep premiums flowing in for the bullish side of GLD
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