My puts are much lower then where I bought them, obviously...and that is just fine and dandy. They were bought as protection, and don't expire until June. There is no way of knowing what Gold will do in the meantime. Meanwhile $20,000 worth of Gold is a lot more valuable then a $2,000 Gold put loss.
News out of Europe not as bad as expected...but I am not convinced. Nor, it seems, are the traders, as the Euro/US pair hasn't really gone anywhere (yet.) Still hold in longer term account.
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