Well, it sure didn't take long for GDX to start its climb back up. Its rise triggered the covered calls I had written in both my accounts, so I bought back the entirety of my holdings today and renewed the covered calls.
It's funny how I've had to repurchase my GDX holdings at slightly higher prices than the exercise prices at which they've been called away. The cash flow I get from the covered calls pretty much makes up for that, so all-in-all I'm committing pretty much the same amount of capital to my GDX position every month. It represents my gold hedge against the U.S. dollar.
Those are the only change for today. The news out of Europe alternates between brief euphoria at each new non-solution to sovereign debt and despair when reality returns.
It's funny how I've had to repurchase my GDX holdings at slightly higher prices than the exercise prices at which they've been called away. The cash flow I get from the covered calls pretty much makes up for that, so all-in-all I'm committing pretty much the same amount of capital to my GDX position every month. It represents my gold hedge against the U.S. dollar.
Those are the only change for today. The news out of Europe alternates between brief euphoria at each new non-solution to sovereign debt and despair when reality returns.
