Taking Profits in Gold

The April Call option we purchased (1265 strike price) for $2930.00 (see our post:  Going Long Gold on Breakout)  today is worth $6200.

We sold our April Call option and took the $3660 in profit.  Yes, prices could have gone up to 1488 or higher (see the 50% Retracement level according to the Weekly Gold chart in our post linked above), but whenever we can make triple-digit ROI gains in just a few weeks, we like to pocket the profits early while there is still time value left on our option.  Prices already surpassed the 50% Retracement level on the Daily Gold chart of ~1272 anyway.  We can always re-enter the Gold market at a later date.

 

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