Gold Call Options: Sold For 100% Profit in 44 Days!
Print This Post
| Topic: Gold — September 18th, 2008
We purchased a significant position and signalled a strong BUY on the January 2009 call options with a $95.00 strike price for GLD, the gold ETF, at $3.40 on the 6th August 2008.
We have now sold these contracts for $6.80, doubling our money as planned, as gold hits $900.
Through this trade we have generated a 100% profit in 44 days, which just goes to show how fast these options can turn around.
Although we still believe gold prices are heading much higher in the future, our strategy for this options trade was to double our money and we have achieved this goal.
We may purchase these calls back at a later date, but for now we are happy to take the 100% profit and wait and watch for a while.
Well done to anyone who followed us in on this trade, you should now be seeing the benefits. As for our other call options, we expect them to reach to the 100% profit mark soon, so hold on to them.
We haven’t sold any gold stocks, as gold prices are heading much much higher in the coming months in our humble opinion.
Also, it may be of interest to see our latest comments which were published on Marketwatch, although more details are available on this website.
These are fast changing times and its essential that you stay up to date with what is going on in the market. For our latest commentary and trading signals on gold, click here to subscribe to The FREE Gold Prices Newsletter and click here for The FREE Silver Prices Newsletter.
|
|
Related Articles
OPTIONTRADER: Trading Record
AEM Call Options: Sold For 100% Profit in 36 Days!
Kinross Gold Corporation: Call Options Update
SKF Call Options Sold For 20.6% Profit In 23 hours!
Options Trading Questions 17 February 2010
![[Most Recent Quotes from www.kitco.com]](http://kitconet.com/images/quotes_4b2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
You guys earned this. Obviously it wasn’t an easy 44 days!
Comment by DBR — September 19, 2008 @ 1:14 am
This reminds me of a key fact that nothing goes up or down for ever. I put in sell orders to take some of the profit off the table. Thanks for keeping us informed.
Comment by BC — September 19, 2008 @ 2:59 pm
Dear Sirs
I am a subscriber to all three of your services Gold,Silver and Uranium
Where can I learn about options trading which you seem to do well….
At present I only own stocks and would like to expand my focus
Many Thanks
Alan
Comment by Alan Fine — September 19, 2008 @ 5:17 pm
From my view the far and above best options broker it www.thinkorswim.com (US and Canada). They also provide educational resources.
You can sign up for free and get a play account and participate in some (perhaps all???) of their educational process and make fictional trades.
Full disclosure - I do not work for them, nor do I know anyone who does. I gain no benefit in any way if you become a customer or not. I have been a customer since Feb 2008.
Comment by BC — September 19, 2008 @ 5:37 pm
Dear Sirs
As a subscriber how can I learn about option trading
At present I only hold stocks and would like to expand my investing alternatives
Thank you
Alan Fine
Comment by ALAN FINE — September 20, 2008 @ 1:54 pm
Thanks for the suggestion BC, yes Alan there are a number of free online tutorial that give you information on how options work.
Virtual accounts such as the one mentioned by BC are probably a good way to start before investing your own own.
We would strongly recommend that you ensure you have a thorough understanding of options trading before you begin to buy or sell contracts, and the risks associated with options trading are far greater than with stocks.
Best of Luck with it though, if you have any questions please let us know.
Comment by Gold Prices — September 21, 2008 @ 7:16 am