Gold ETF (GLD) – Massive Potential Breakout- June 10th, 2019
Bullish – GLD $126.59 – Commodities
The idea presented is the opinion of the Options Action staff and not a recommendation by OptionsPlay.
On Friday’s Options Action, the crew analyzed the performance of gold. Gold is currently approaching a major resistance level near $1350, with higher lows over the past few years. Coupled with rising relative strength against commodities, and potential rate cuts, provide an upside catalyst. Expecting GLD to breakout higher, Michael Khouw suggests buying an Aug 127/133 Call Vertical for $1.65 Debit. As of Friday’s close, these calls were trading at a $1.52 Debit.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: GLD OptionsAction Trade
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