Email Alerts: 10/22/23 – Close GLD, Adjust IWM

TICKER: GLD

After a lot of modeling and adjusting, I’m cutting the position we have in GLD.  While I still think it rose too quickly and could be headed for a reversal, I see strength up to the $190 level.  I do not see a good way to roll or adjust the trade we have without adding money to an already-losing trade.

BTC 3 NOV 174 call

STC 3 NOV 179 call

BTC 3 NOV 174 put

STC 3 NOV 169 put

Debit 4.80 (don’t pay more than 5.00, as that is the max the position is worth).

TICKER: IWM

The Russell 2000 has been falling apart without a retracement.  I’d hate to sell our position now, only to see a potential retracement in the coming weeks.  Therefore, I’m rolling this position out in time.  Depending on fill prices, it may be a slight debit.

TRADE ACTION 1: Roll the puts out for a debit of around 0.55

BTC 17 NOV 174 put

STC 17 NOV 169 put

STO 15 DEC 174 put

BTO 15 DEC 169 put

TRADE ACTION 2: Roll the calls out for a credit of around 0.50

BTC 17 NOV 174 call

STC 17 NOV 179 call

STO 15 DEC 174 call

BTO 15 DEC 179 call