Monday, November 25, 2013

First Options Trade Made ($12.00 December Put)

The account just purchased the IAU December $12.00 put. The cost was $0.25 before commissions and expenses. The goal of the trade is to see the option sold at $1.00.

The trade was made based on the following fundamental and technical factors:

- Taper talk is back

- The chart is hitting the bottom of its range (strong possibility of breaking through to $11.00)

- Strong talk about capital rotation out of gold into other assets like stocks

- End of year sales of losers to gain tax advantages

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