Mid-Week Stock Update Before I get to the Focus on GLD section, a word about the stock indices. Best practices suggest caution on both long or short positions going into the final two days of the week. We may have an opportunity to, "add-on shorts", via QID and or UVXY calls upon a breakdown in the indices over the next two trading sessions. Consider such a move, "Pending," basis further price action. The only certainty as of late Wednesday is to roll over half of any GLD October expiring calls before Fridays close. Details follow. Focus on GLD - October Expiration In Monday's update, What's Working, one option in our Premium Portfolio that is expiring on Friday continues to stand out: GLD. That call was itself a rollover from way back in August 4th and/or on July 14th. Rounding up, that accounts for 200% and 1,200% gains on GLD calls from mid-summer into October expiration week. Worth the price of admission? We have been long Gold (via GLD calls) from $3,340 to today's high of $4,218, a gain of about 25% in the underlying asset that equates to a sum of about 1,400% in option gains, i.e., the magic of being in the right options at the right time. We have also been holding SLV and NEM calls in both Premium and PRO services, compounding even more gains along the way. As for the October GLD position, at around mid-session Wednesday: With about 48 hours until monthly expiration finishes off these calls, we have to rollover October calls into December expiration, so as to maintain exposure Gold's historic run. As I suggested to the PRO group earlier this morning, consider banking half of those superb GLD option gains,- from $475 per call to over $6,000 per call, while rolling up to the remaining half into Dec expiration as per the table below. Important Note: We have been all over GLD this past summer with multiple entries on different dates, including previous rollovers. Its possible that accounts following all these trades could be holding Oct as well as Nov GLD expirations,. If so, no need to rollover October on Friday. Sit back and enjoy the spoils of a successful trade. You earned it. GLD Rollover at Oct 17th Option Expiration -If holding only Oct GLD calls, roll up to half of expiring calls into Dec 19th $420C- Another call run from $475 to $6,000 in the cards? GLD It's not a matter of if, but when.....
