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r/thetagang
Hammering the GDX and GDXJ ETFs with naked CALLs and vacuuming up theta ...
Investor summaryBearish
Selling naked calls on GDX/GDXJ to collect theta, betting against gold bulls amid a sharp drop driven by strong dollar and yields.
Bear points
- Surging U.S. dollar and rising bond yields are triggering broad selling in precious metals.
- Gold cheerleaders chanting 'buy the dip' are ignoring the macro headwinds.
Post body
Gold suffered its sharpest one-day drop in over two months as a surging U.S. dollar and rising bond yields triggered broad selling across precious metals.
While the gold cheerleaders keep chanting buy the dip, the real cash flow is heading to traders who have been collecting premiums from the long side all along.
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