We have been tracking GLD call positions since early 2024, including a Mar 1st entry (Apr 19th $195C) that went off the board at +762%. The remaining two positions are as follows: GLD Unexpired Calls Trade Management Although unexpired, both positions have been held in the Premium portfolio long enough to be subject to trailing stops. (1) If both are still being held: Its time to roll over the July call to September, in particular, an out-of-the-money Sep 20th call is recommended. Here are the most attractive strikes based on chart projections: (2) If this is a new position: The Sep GLD $240C looks well situated for the anticipated move to GLD $250 over the next 6-10 weeks as per this chart pattern: GLD (3) If still holding only the Sep $220C: (a) Consider taking profits now and splitting the proceeds between the Sep $240C and $250C for additional leverage. (b) Alternatively: Continue to hold the Sep $220C maintaining a 50% trailing stop to lock in profits in case this apparent breakout reverses and Gold (GLD) heads back down. That 50% trailing stop on the Sep calls would currently lock in about a 75% gain, worst case. Not bad for a June 18th initial trade. If held to expiration and GLD reaches $250, the Sep $220C (bought for < $500) will be worth about $3,000, a gain of about 6X for a three month buy and hold option. Gold Futures If $2500, then $2700-2800 likely; if $2800, then $3,000 looks to be a slam dunk.
