A while ago, I re-purchased puts on Gold. Even after this correction we've had in the yelow metal, they are only worth 1o cents today, and, as I've explained before...that's just fine and dandy! (Puts expire May 26)
The upside of my Gold position outweighs the loss in expiring Gold puts by at least 8 to 1. Many of this blog's entries cover this subject.
Since I have already done well in the Gold puts that I sold (about $11,000 in profit,) this is a strategy I will continue to employ. There are so many conflicting and confusing signals (like the headline on the top) for and against inflation that I feel like I am watching a long rally at Wimbledon!
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Speaking of puts...I gotta laugh that I bought S+P puts the night before the Dow went up over 200 points! You'll see, bulls...you'll see!
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