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I shizzle my dizzle on writing options. Thanks for feeding me your cash.
  • Shizzling Options 0 comments
    Jul 3, 2013 11:23 AM

    I've been away for awhile, but I'm back. Time to start taking your money again, options playas.

    Latest trades included:

    Wrote GLD (155 calls) a month or so ago, which was followed by 5 days of movment against, I was converted to naked short and was promptly rewarded a few days later by a plunge to 131. Options premium plus bonus. No panic from me = seasoned investor gets the win.

    Wrote GLD 123 Jul05 puts. Sadly, did it a day early and got 2$. Followed by several days of movement against. Patiently watched and waited. Should have written more for 7$. Sure 'nuff, GLD zips back to 121.47 as of this second. I'm happy to take the stock and write calls against it, but prefer to just straddle or naked my way back to the next cycle.

    Folks, its so obvious the GLD is getting yanked around. Why - can anyone say - that it goes from a low of 115 to 124 within a matter of days? Large intra-day movements = volatility = nice options premiums.

    Thanks for the dinner n' private plane fuel money, I appreciate it.

    Disclosure: I am long GLD.

    Additional disclosure: By way of a pending PUT

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