Sold GOLD strike 25.50 EXP 1/29 covered calls for $51. Got exercised into GOLD at $23 just last week and it ran 6%+ today. Sold puts for 5 months before I finally got exercised. I am always very wary of holding anything gold for long. I was never good with the 5% of your port always "rule" because I think it is generally dead money. The option premiums are very good, Barrick has a dividend and it worked this year. No matter how this position plays out I have already collected about 20% premiums at the end of it all. I don't see gold crashing with all the money printing going on and a new administration that will try to spend money we don't have. It will remain a small part of my game.
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Conservative option strategies, what did you buy or sell today?
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