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Monday, November 25, 2024

Top Trade Alert – Nov 3rd 2022 – GOLD

GOLD beat top and bottom but still getting crushed today, -7.5%.

comment imagecomment imagecomment image“Analysts” (the idiots who cover GOLD with zero actual experience) don’t understand that, if Gold (/GC) prices are low, Barrick mines less of it ON PURPOSE. There is a finite amount of Gold in each mine and they would rather sell it when it’s expensive than when it’s cheap. HOV does similar things with their land.

GLD Nov 3 2022.png

GOLD Nov 3 2022.png

Copper, on the other hand, is trading high, so they are mining more of it.

comment imagecomment image

Potential for 2023 Trade of the Year at this pace!

It’s like IBM, stupidly low and we can just play it like:

      • Sell 10 GOLD 2025 $15 puts for $4 ($4,000)
      • Buy 20 GOLD 2025 $10 calls for $4.65 ($9,300)
      • Sell 20 GOLD 2025 $17 calls for $2.10 ($4,200)

That’s net $1,100 on the $14,000 spread that’s $6,000 in the money at $13 with a $12,900 (1,172%) upside potential if they can get back to $17.

 

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