The tactic is the near-the-money vertical call spread expiring in December.
Taking profit in this modified covered-call position in GDX.
A purchase with a ratio call spread offers upside.
Overall, Thursday was rough on stocks.
Both the GLD and GDX are set up well for a rally but both are struggling to gain traction.
©1996-2017 TheStreet, Inc. All rights reserved.Action Alerts PLUS is a registered trademark of TheStreet, Inc.