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Thursday, June 19, 2014

Gold (GLD) Put Options

6/4/2014 (RD)

sold (to open) 2 July 2014 $117 puts for $1.17
(I received $234 in cash)

Reasons for placing this trade:
  • Probability of success:  68%
  • "Oversold" (see chart)


bought (to close) both puts for $0.10
(I spent $20)

Reasons for closing this position:
  • GLD rose 3% today.....a lovely surprise!
  • I've collected 91% of the maximum profit in just 2 weeks
  • "Overbought" (see chart)

NET PROFIT:  $194.99 (in 2 weeks)

Note the IMPECCABLE TIMING of my opening and closing trades!  Obviously, I don't have a crystal ball, but I aim to SELL PUTS at the bottom of the stochastics and I aim to buy them back at the top of the stochastics.  It's that simple!

Learn to SELL PUT OPTIONS!  It's easy, fun and PROFITABLE!!
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