Gold
Even with the recent move lower in Gold price some say that the Gold is oversold. There have been recent developments to support the move lower. Positive trade war talks, strong US dollar. In my opinion based on the global production increased in most Gold producing countries. Australia’s production hit an all-time high of 317 breaking at 21 year record. Steady stream of out flow in the Gold ETF. Leads me to believe that Gold has more downside action ahead. To take advantage of this one could buy two 1280 puts sell one 1270 put sell one 1265 put for 8.4. The reason to stager the short strike is to take advantage of the volatility move as well as the gamma increase of the 1280 puts. If the move continues lower the 1280 puts will get a larger vol pop vs doing a basic put spread.
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