The Striking Price column was mostly about opportunities that emerge from spikes in volatility. Steven Sears mentions that these spikes may be the result of economic reports and the uncertainty of the overall economy that may result from new pieces of information. All I can think about when I hear of short term volatility trading opportunities is VXST.
He also mentioned that there seems to be an abundance of bullishness around the Market Vectors Gold Miners ETF (GDX – 26.35) which is already up 17% this year. Apparently there are call buyers looking at the January 2015 GDX calls and the expectation is for GDX to rise to 40.00 by that time. I think the word bullish is an understatement if that is the outlook.
Apparently the Options Action crew got the weekend off so there’s nothing much to report on there. As for me I will be at the Trader’s Expo in NY this Sunday through Tuesday either speaking at the CBOE’s half day options track or at the CBOE booth. Please come by and say hello!