GDXJ is close to triggering its second ‘mechanical’ buy signal since mid-June. We usually jump on first signals only, but in this case bears look so enfeebled that it may be possible to make money on some call options. Bid the 4 August 37 calls gently, paying no more than 0.32 for them. (They closed on Friday ay 0.49.) This is a day order to be placed ahead of Monday’s opening. I will adjust the price intraday if it appears that we can do even better, so stay tuned to the chat room and have your ‘Notifications’ switch on if you are keen to play. ______ UPDATE (Aug 3, 7:19 a.m.): The bid failed to trigger when the Aug 37 calls opened at 0.53 and instantly traded up to 0.72. Sellers at 0.53 may have felt like they’d been had because they were. Opening-rotation trades in option markets are not for amateurs.
GDXJ – Junior Gold Miner ETF (Last:36.54)