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Re: Swampdude post# 904

Wednesday, 09/28/2016 6:04:02 AM

Wednesday, September 28, 2016 6:04:02 AM

Post# of 1057
Well this Sharp option Trader expects NUGT

to head up over $19.50, NUGT trades in correlation to GDX which also should go up, when GDX goes up 1% NUGT does 3% since it is a 3X leveraged
ETF, so buying 15,000 Oct 14, $19.50 calls at $1.70 apiece, his break even
is $19.50 + $1.70= $21.20 by expiration date. For every dollar NUGT
climbs above $21.20, the trader profits $1.5 million, he must be expecting
a huge move in GOLD to put on such a position.

start small work your way up.
best to you

NUGT RSI=2 short term basis over sold so i expect a pop soon after 4 days down.