Option Expiration Day For Precious Metals on the Comex
On Tuesday I wrote:
“We are going to have an option expiration on the Comex on this Thursday the 24th. I am not expecting it to be a big event, since October is a light contract, with the real attention and action being concentrated in December.
However, there are over one thousand puts at the 1125 strike, so the cynical me might call that good support.
If I were trying to skin the specs and holders of options with shallower pockets, I would take gold down to about 1120ish, suck in more puts and scare the calls out, and then take the price up and skin all those put holders at expiry.”
Jesses Cafe Americain June 22
And so we saw gold push lower, and then rally higher sharply afterwards, especially today.
Fait accomplit.
Continue Reading at JessesCrossroadsCafe.Blogspot.ca…
Source: http://financialsurvivalnetwork.com/2015/09/option-expiration-day-for-precious-metals-on-the-comex/?utm_source=rss&utm_medium=rss&utm_campaign=option-expiration-day-for-precious-metals-on-the-comex
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