It does not make sense even if one really tries to understand. Gold and GDX are going a lot higher from here own, they both have been way oversold and only move from here is up. And GLD puts are not cheap either. So why erase a big chunk of your GDX profits by betting against GLD which is surely moving higher from this point. Also I doubt if GDX will go up with GLD going down !
Options as a 'Gold'en Opportunity [View article]