90% win rate ๐ Unveil an easy $GLD Call Play with naked #gold
Hey everyone, Greg is here with a quick rundown of todayโs options trading play. I entered the ring with a naked call on
GLD
, aiming for that sweet spot of easy returns on a maximal Pop trade. Todayโs golden ticket could net me a max profit of $118 with a probability of profit (PoP) sitting pretty at 80%, all while tying up $3000 of buying power and riding on an implied volatility rank (IVR) of 20%.
The game plan was simple: watch the market, play it cool, and have a couple of scenarios up my sleeve:
(Scenario A) If the price hikes, I'll pivot to a strangle, balancing out with a sold put to accompany my call.
(Scenario B) If it looks like easy money, Iโll lock in those gains and close out the current trade, quick and clean.
The strategy is all about simplicity, with an exit plan to bow out gracefully at about 65% of the max profit. As of today, November 5, 2023, that naked call is open and Iโm in the market.
To wrap it up, hereโs the play-by-play for today:
Date: November 5 , 2023
Stay tuned to see which scenario unfolds and how the tradeโs balance shifts in the coming days. Keep it easy, folks!
GLD
, aiming for that sweet spot of easy returns on a maximal Pop trade. Todayโs golden ticket could net me a max profit of $118 with a probability of profit (PoP) sitting pretty at 80%, all while tying up $3000 of buying power and riding on an implied volatility rank (IVR) of 20%. The game plan was simple: watch the market, play it cool, and have a couple of scenarios up my sleeve:
(Scenario A) If the price hikes, I'll pivot to a strangle, balancing out with a sold put to accompany my call.
(Scenario B) If it looks like easy money, Iโll lock in those gains and close out the current trade, quick and clean.
The strategy is all about simplicity, with an exit plan to bow out gracefully at about 65% of the max profit. As of today, November 5, 2023, that naked call is open and Iโm in the market.
To wrap it up, hereโs the play-by-play for today:
Date: November 5 , 2023
- Strategy: Naked Call on
GLD
- Opening Credit: $118
- Expected Profit: Exiting at ~65% of max profit
- Probability of Profit (PoP): 80%
- Required Buying Power (Req.BP): $3000
- Implied Volatility Rank (IVR): 20
- Current Position Balance (as of opening): $118 of credit (1.18cr)
Stay tuned to see which scenario unfolds and how the tradeโs balance shifts in the coming days. Keep it easy, folks!
ืขืกืงื ืคืขืืื:
Yesterday I've almost closed in 50% of max profit (~$60 in 3 days), but today the price bounced, so SCENARIO/A wins, I've transformed the position into high PoP 80% 36DTE strangle.
Not the max profit is $203, the req.Bp. for this 36 days is still $3k, no additional BP required.
The PoP high, 76+% based on my calc. (DYOR!)
I'm expecting about ~$100$ with this position.
Not the max profit is $203, the req.Bp. for this 36 days is still $3k, no additional BP required.
The PoP high, 76+% based on my calc. (DYOR!)
I'm expecting about ~$100$ with this position.
ืขืกืงื ืกืืืจื: ืืืขื ืืืฉื:
Winner, the strangle trade has closed for 1.02db and grabbed my $100 gain.
Under 10 days that is 3% of my used Bp with low risk, I like it.
Winner, the strangle trade has closed for 1.02db and grabbed my $100 gain.
Under 10 days that is 3% of my used Bp with low risk, I like it.
