CLOSING: BOT +1 STRANGLE GDXJ 100 19 NOV 21 46/42 CALL/PUT @.94 CBOE
Buying back the strangle in GDXJ for profit. Less than usual profit target, but we are getting closer to expiration so why take the risk of increasing gamma
We still hold the shares in our portfolio and the profit from this reduces the cost basis of long shares.
Stock is down approx 2% from when we opened the initial covered call. So, making 2% RoI in 21 days when the stock is down is not a bad deal at all
Profit: $78