Thursday, February 23, 2012

Closed a Gold Position

With GLD trading over $173 and near its last high (in Nov of $175) CCI sold the March $155 call in the portfolio today.

This completes the fourth round trip for this trading strategy for holding gold. As shown in this google doc,  this round trip had a robust 19% gain, to bring the total gain for this strategy to 56%.  Gold is up "only" 32% during this same period.

CCI remains long gold via the Jun $175 calls.  If gold pulls back we will consider adding to the position in some manner.

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