Follow-up: Gold and Silver - oversold but where are the bulls?

Well the bulls finally came out and after a 4% rally and 1.5 point increase in implied volatility - it is probably time to take some off the table. I'm selling my GLD Jan 160 calls @ 1.3 after it rallied from 28c. I still think gold can rally, but don't mind taking a profit (Original purchase @ $1, doubled down at 70c, and unfortunately missed the 28c print).



Old Post
http://chartemporium.blogspot.com/2011/12/gold.html