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  • Ocean Man
    Bought $GLD weekly $164 calls for $2.33. A play on this week's Fed meeting.
    12/10/12
    Reply (9)
    • Bret Kenwell: Looking for Gold rally? Or simply plan on selling before the meeting and collecting a rising IV play? Curious, you usually play these well..
      12/10/12
    • Clayton Rulli: no Volatility capture play OM?
      12/10/12
    • Bret Kenwell: haha, Clayton and I are on the same page with you OM!!
      12/10/12
    • Ocean Man: That play was mainly based on binary Yes or No new QE news on Fed announcements. Many think the play is dead with QE on now.
      12/10/12
    • Ocean Man: My thinking is that there could be an increase to QE announced this week, or some other replacement to Operation Twist, which could give GLD
      12/10/12
    • Ocean Man: a bounce. The expectation of such is not priced in, as GLD has dropped 3.3% the past 2 weeks (with a small 1% bounceback), so it may not
      12/10/12
    • Ocean Man: drop much if nothing is announced, and might jump significantly - a good bet using in-the-money weekly options.
      12/10/12
    • Ocean Man: I've also seen some other bits of info and arguments that have me leaning a bit bullish on gold.
      12/10/12
    • Youngone91: GLD outperforming. XLY struggling. looks like bernanke to me
      12/10/12