Here is one that we don’t trade a whole heck of lot of, largely because we can find no fundamental value in the asset, GLD. The shiny metal could not rally when the VIX just …
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Options activity was much more active in ETFs than single stocks today. XLF – Buyer of almost 175k of the Sept 20 puts paying an average price of $0.2550 in the afternoon. Open interest on that …
Continue readingGDX is trading above its 50 day moving average for the first time since October 2012. That’s quite a 9 month streak of weakness, paralleled by the steep downtrend in gold and silver in that …
Continue readingGLD – Buyer of more than 51k of the Oct 131 calls for 1.75 in the morning. Implied vol for that line was up 2 points on the day as GLD ended near a 3 …
Continue readingTrade Update April 15th, 2013, 9:45 am: Gold and silver have made massive moves in the past 2 trading days, with all precious metal related assets moving lower.
Continue readingI laid out my thoughts on NEM and the precious metals in general in a Name That Trade Post 3 weeks ago, included below. In that post, I discussed how precious metals were at a …
Continue readingGold and silver have had a rough week, but I when I first read the headlines from overnight this morning, I figured they’d at least be higher today. That’s because the main news overnight was …
Continue readingThe gold miners have been totally decimated in the past 6 months. The ETF is down from around 55 in Sept 2012 to 37 today, a 35% drop for the sector. Meanwhile, gold and silver …
Continue readingPrecious metals under severe selling pressure again, but some interesting upside bets in the miners right near the close, essentially someone buying lottery tickets. Funny strike selection though, as I’d rather just buy fewer contracts …
Continue readingI discussed my thoughts about GLD being at an inflection point in this morning’s Macro Wrap. I wrote that I wasn’t sure which way it would break, but that I expected a break soon. Now …
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