Monday, August 17, 2009

GG

I sold 10 naked $33 August puts for .41 when the stock was at $33.89. Just trying to steal $410 for 5 days. I am not against owning this as I want some sort of gold exposure as part of my long-term portfolio since I plan on staying in mostly cash until further notice. If these are put to me I will turn around and sell $33 covered calls for September. I played this particular ticker in the past and it's historically had a higher than average beta so the month-to-month options premiums are always attractive. It might be something I sell conservative covered calls on long-term.

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