Friday, January 30, 2015

NUGT update

Having stayed with the triple strength GDX etf from my Buy price of $35 to below $10 !! , after buying back my 40 call, I just today resold a 2017 LEAP call - the 25-strike for $7; IV (Implied Volatility) is still @100. NUGT's underlying - GDX- is an etf on the best of gold stocks, so shouldn't go away like a bad stock. To me it appears oversold with juicy volatility - a good way to play an eventual gold rally.
Another way is just to buy the GGN, yielding 11% while you wait - also oversold.

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