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Thursday, January 6, 2011

GLD Position Looking Good



- Most recent push up to 138.72 stopped short of GLD's previous high of 139.11. By Jan 22 expiration, the chance that GLD prices would go above 142 is very small. Now the question is will the Jan 132 puts be in the money by Jan 22 expiration? GLD is testing 133-134 support level once again.

- As for SPY, mean implied Volatility has dropped a point to 15% from 16% as of Monday morning's post. FVE indicator's value is 11.5. According to my indicators, implied volatility remains overvalued.

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