- Long HOT Jan 45 put (2013 LEAPS) @ 4.90.
- Short GLD Sept 141 call @ 5.50.
I perhaps jumped-the-gun on HOT as it’s in a bearish trend, yet oscillators are still fighting onward & upward. I bought a tiny amount of LEAPS to scale in, hoping to cost average down if the opportunity presents itself.
GLD, however, looks heinous. I’m not a full-on Gold bear at this point, but I’m building a fundamental contrarian case, the enacting of which I can’t envision before the first mention of May. For now, the chart looks ugly. Longer-term, the jury is out.
Charts to follow hopefully.