Given how extreme prior daily RSI was, more upside is very likely. The recent bounce is pretty strong, one can use any retrace for a short term speculative long trade. A meaningful correction without breaking down the important levels in prior post would be ideal to build larger position.
As a commodity, GLD options exhibit volatility smile. So for 1-2 days, I prefer (imbalanced) butterfly for directional bet. And vertical spread is pretty good for 1-2 weeks options. Longer term calls really needs patience.
In short, we should see more fun ahead.
As a commodity, GLD options exhibit volatility smile. So for 1-2 days, I prefer (imbalanced) butterfly for directional bet. And vertical spread is pretty good for 1-2 weeks options. Longer term calls really needs patience.
In short, we should see more fun ahead.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.