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RE: (VIDEO) Critical Updates: Gold, Silver, US Dollar, Bonds, Trading, MORE! By Gregory Mannarino
He's got both the GLD and SLV trades listed at his blog as "straddles"...not outright buys via call contracts. Of course he says to "hedge" every call he makes, which is right now "bullish GLD and SLV" via his commentary...altho I haven't listened to this entire spew yet. I'm listening now. He needs to update his web blog to show that he only bought calls...not straddles.
https://www.traderschoice.net/money-page--stock-picks.html
BTW, no contracts have yet traded in the Sept expiry $14 put options as of yet. So either Greg isn't following his own advice or he's outright lying. There are no other scenarios possible.
I did not look for the SLV, but I executed one call contract on GLD but not at the proposed 115 but at 120. Moreover this also reduce the variation with the price action of the option relative to the GLD price. While I am a bit exposed to the a large swing on the negative side than with a straddle I prefer this approach, but it remain up to you to adapt your style to your risk level. I am also not sure Greg execute every recommendation but his advice remain very good for me.
If only one side of the trade he "outlines" at his blog where he "says" he posts "actual" trades gets executed, then he should update the information as such. As of right now he "might be" long those SLV put contracts as they "finally" traded 25 contracts (total) at .06. That certainly "looks like" a big enough trade for Greggy poo to handle. That's basically a $150 bet..total! LOL That's the "fact." I gave him the market price when he posted the trade. I'm tracking his "real time" based on what he tells you to do at his blog. It clearly states that all of the trades listed should be straddles.
It's only a straddle until you're confident enough about the direction of the move.