What a great day for selling premium if you believe something is bullish! Well, I'm pretty bullish on gold and PMs so today while GDX was dawdling around it's 50% retracement (37.97) I sold to open 2 GDX 35 puts for $1.10 and received $214.10 after commissions. Gold and the miners index has been consolidating lately, but so much money is being printed that Gold should stay strong or flat for a while. I have downside protection all the way to 33.90, which is about 11% OTM.
I've been patient in making trades lately, hopefully it will pay off...
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