02-04-2021, 01:13 PM
Closed out another HD put for the third time in about a week. This time for about 98% gain in five days. One of my better options weeks in a while with the volatility. Went with a contrarian play for now. USD is up and gold is hated. Gotta have a thesis and mine is we are about to start spending and printing money. Gold has a good enough floor in it after the recent drop. It's not rational right now. It rarely is when the market goes "risk on" mode. Sold GOLD (Barrick) puts from 3-5 weeks out in the 21-21.50 strike range. Average premium is about 3% so that works. Especially since it's intended to be a hedge which I am light on currently. I'll do another round of puts if these get in the money. Gold is barely 1% of my port currently so this is a conservative enough play.