Monday, December 21, 2009
Sold the rest of those GLD puts
In a post earlier this month ("Buying a lottery ticket to bet against gold") I mentioned buying a few puts on the gold ETF GLD. Those puts I bought were the Jan 10s with a strike price of 108, GCZMD.X. I got them at $0.74. I sold half on 12/11 at $2.92 for a gain of about 390%. Today I sold the rest at $3.20, for a gain of about 430%. I'd send Buffetteer17 a nice bottle of scotch if I knew his address.