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Friday, February 26, 2016

Gold (GLD) Call Options

2/17/2016 (11:45:46 am, PT)

sell (open) -10 Feb 26, 2016 (week 4)  $119.50 calls at $0.52

Why did I place this trade?
  • stochastics in "overbought" region
  • 80% probability of success


2/26/2016 (7:53:12 am, PT)  (Expiration Friday)

buy back all 10 calls at $0.01

Why did I place this trade?
  • to remove the risk of assignment
  • to protect my profits

PROFIT:  $510 (in 10 days)


SUCCESS!