A new trade was started today. October $16.00 call options on the gold ETF IAU were purchased for $0.55 before commissions. The target price is $1.00. IAU is currently trading at $16.25. Reasons for the trade include the following:
- A confirmed breakout
- Upcoming speculation on stimulus by global central banks (US, European, and China).
If a more conservative way to invest or trade is more to your liking, don't forget to check out Sell The Call and its coverage of all things covered calls!
**Disclaimer** - This is just trade information. It is not a
recommendation to buy or sell any of the securities mentioned in this blog. Do
your Due Diligence before any trading or investing. Previous trades posted on this blog include USO.