AlexanderGotay

Strangle on GDXJ for a 61% probability trade

AMEX:GDXJ   VANECK VECTORS JUNIOR GOLD MINERS ETF
It looks like Sellers are starting to come in, and I don't think buyers will give up that easily, so I expect some 2 way action in the next 30 days. With a decent IV Rank of 39 I want to sell some premium to add to my theta numbers.


The trade:
Sold the 32/37 Strangle for $1.83 per contract
61% probability of profit

Will look to close it at 50% of the premium received to improve our probabilities.
交易手动结束: With 18 days to go and IV Rank of 10 I decided to take profit on this trade. Took around $60 per contract which is around 30% of the premium received.
Make sense. We'll see. what do you think of the ETF: JNUG stop issuing new shares because of scarcity in the underlying which also includes GDXJ?
回复
@pmcllc, I have never traded JNUG, so I don't have any experience with it. I am not a big fan of leverage ETF's , but when I trade something like NUGT or any other 3x product I take profit fairly quickly (In and Out).
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