OPENING (IRA): GLD OCT/NOV/DEC 164/168/172 SHORT PUT LADDER... for a 5.69 credit total.
Notes: Amazingly (or not), I have no gold in my retirement account.
Although I feel I'm somewhat late to the game, taking up a position here in an instrument with excellent options liquidity. For smaller accounts, consider SLV, which also has the added benefit of having higher background implied (SLV: 69.4% versus GLD: 26.4%) or one of the miners (GDX, GDXJ).
As with my other acquisitional setups, run to expiry/approaching worthless and if assigned shares, proceed to sell call against.