Diary of a Financier

Opened Options Positions: Bearish HOT & GLD

In Capital Markets on Wed 30 Mar 2011 at 08:18
  • Long HOT Jan 45 put (2013 LEAPS) @ 4.90.
  • Short GLD Sept 141 call @ 5.50.

Just a quick note on those bearish Starwood Hotels (HOT) & Gold (GLD) options positions I opened yesterday afternoon.

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.

–Romeo

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  1. […] also closed that GLD short September 141 Call.  I wasn’t exercised as it still trades well within the premium I collected, but I came to […]

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