Can you explain which party is advantaged by the price of gold going down before first notice day? I had been cautious ahead of gold option expiration because of the large open interest at 3000. But each time the price was pushed down it bounced higher. Then yesterday, on futures expiration, there were again several attempts to push it down to 3000 and it bounced. Not only that, the mining stocks were heavily bought on the open yesterday and stayed strong all day. I went all in on GDX options about an hour before the market closed and, even when gold was hit for eight dollars an ounce in that last hour, the mining stocks rallied and I expected to be in great shape today. Right now gold is down $60. Gold used to get hit on before, and on, first notice day regularly, but I thought those days were over. Maybe there’s something else going on that I’m not aware of, but I can’t find anything to explain the hit except that Monday is first notice day for deliveries.
Can you explain which party is advantaged by the price of gold going down before first notice day? I had been cautious ahead of gold option expiration because of the large open interest at 3000. But each time the price was pushed down it bounced higher. Then yesterday, on futures expiration, there were again several attempts to push it down to 3000 and it bounced. Not only that, the mining stocks were heavily bought on the open yesterday and stayed strong all day. I went all in on GDX options about an hour before the market closed and, even when gold was hit for eight dollars an ounce in that last hour, the mining stocks rallied and I expected to be in great shape today. Right now gold is down $60. Gold used to get hit on before, and on, first notice day regularly, but I thought those days were over. Maybe there’s something else going on that I’m not aware of, but I can’t find anything to explain the hit except that Monday is first notice day for deliveries.
Vince and Gang, Eric had interesting comments on Platinum in a Youtube post with CapitalCosm 2 weeks ago, Platinum discussed at minute 33.58 mark