buying GLD 172 weekly puts next week expire at .87 OVERSIZED. I was waiting to make a bearish bet on GOLD for the last 2 weeks and am here taking a stab at next week puts

/b buying GLD 172 weekly puts next week expire at .87 OVERSIZED. I was waiting to make a bearish bet on GOLD for the last 2 weeks and am here taking a stab at next week puts , just for incase we have a bullish employment picture surprise tomorrow. I am not expecting anything positive on tomorrows employment picture but with everyone so bearish on these numbers am going to attempt a bet against the trend with a single position on gold bearishly overnight. Plus we can have bad data but if better than the bad expectations we may still rally tomorrow. So far today has been a frustrating market day where I continue to hold the SPY bullish bets and am at a loss on them, would not reverse the positions bearishly unless todays lows are lost. On the spy the 2 year trend line hits exalt todays day lows so that should other serve as support or the bearish tern were we truly to bearish if the level is lost. If we lost the day lows then I may have to short the 122 this week weekly calls on SPY same contract amount as all the bullish bets.

Posted in General Trading