GLD

cripky

GLD crashed during the 2008 crisis too how is it a safe haven asset 🤔 [](https://emojipedia.org/thinking-face)

6JDanish

>*IAU over GLD in regards to "assignment risk": are you basing that on their share prices? THAT kind of assigment risk?* Yes. I like to scale into positions, at various strikes and expiry dates, keeping assignment risk in mind. Given my account size (cash account), it's easier for me to do that with lower price ETFs like IAU.

TheInkDon1

"Amount of capital"? Like the physical amount in 1 trade, or is your concern more the "if things move unexpectedly" piece? The latter is actually why I LOVE gold. *It DOESN'T move unexpectedly.* It's THE single most "unexpectedly-moving" thing I know of. It took me 5 solid years, and 20 off-and-on years before that, to finally discover it. My GOD I wish I'd discovered it 5 years ago. I would've retired 2 years after that; and that would've been just from PMCCs *without* margin. Wheeling ATM *with* margin?!? Fuhgeddaboutit! PLEASE: check it out. I mean, *really* check out the price action of gold. If you know of something better (that's marginable, and that pays as good a premium) I'll pay you $1,000 for it. We could do a poll here and on r/Stocks: overlay the graphs, no identifiers, and let people vote on which one is "smoother." That's subjective, but we all know it when we see it. So anyway, yeah: gold is smooth. I have another long-A post in this thread that shows that, going back 20 years. You say you run the Wheel, that's great! Maybe try with GLD going closer than 30-delta? Be advised though that u/calevonlear takes profit at 25%, not 50. If you did, say, 40-delta, maybe take them off at 37% profit? Anyway, stay tuned, maybe my real-money real-time experiment will help convince you, since my 50%-in-a-quarter PM experiment didn't. Cheers!

holdingspaceforpussy

I've made money in my boomer account that's like 25% GLD and SLV

ThinLeadership9604

Same as it has been the past year. Leaps on $GLD.

EvolvingDior

SPY vs GLD since 2005... who wins?

Peterd90

Gold miners and ETFs like GLD, big oil, (XOM, CVX and others), the gas and oil pipe line companies (EPD, ET) defense contractors (Lockheed, Northrop, Raytheon, General Dymamics). I would say Boeing but dont know the details behind the crash in India.

TheInkDon1

Interesting, and I was sure someone would bring this up. I 'thought' 5 years was enough of a lookback (it is for me), especially when talking about trading around an underlying *weekly or* less. Because to me it's like this: remember integration from HS or college Calculus? What's the slope of this itty-bitty part of this curve? Or maybe a better example, approximating a curve with tiny-tiny linear segments? To me, this is like that. Yeah, if I were going to plonk my money into something and not look at at for 20 years, then yeah, maybe an Index fund is better for me. (And I love your numbers about 80%/20% and 70%/30%, I'll have to look into that. Because I think they speak to this point I just made.) But why would I do that? (Why would *anyone* do that, tbh.) Can I look at my investments once every 5 years, at least? Maybe every year? Then pick the 'thing' that's going up the most/best? (I'm an unabashed momentum-follower on top of this other crazy stuff.) Do you see where I'm going? Maybe we don't need to look at the market over 50 years, or 20, or 10, or even 5. Maybe 1 year is enough to get a feel for what's going on. I'm taking that 50- or 20-year history and integrating it, dicing it up, looking at smaller and smaller time slices. And what do I see in those ever-smaller slices? How about [gold vs the S&P500 for the last 5 years?](https://imgur.com/a/FWumVaL) Wow, in 2021 "the market" was the place to be. 2022 though, not so much: GLD lost much less, percentage-wise. Interestingly, you could zoom in to 4 years, then 3 years, then 2 years, then 1 year, then 6 months, then 3 months, and find gold beating the S&P in every one of those cases. But this for me isn't about gold "winning" over the long term, it's about gold *behaving*. Behaving better than "the market," better than Apple, better than Walmart, JNJ, COST, PFE. Better than most non-index ETFs: VUG, VTV, IWF, etc. In short, better than ANYTHING I've found yet. That's why I like to trade it. But back to your point: gold "spiking down and staying down for a long period." **Does is it, though?** That's my question to you. Looking back over [110 years](https://imgur.com/a/tu27iBn) it sure seems like it does. But is that because we're "zoomed out"? What did it look like to investors in real time? It's hard to get a graph of gold over 100 years on Yahoo Finance, and GLD only goes back to about 2005, but I'm going to use that to zoom in on that "spike down" in \~2011. (Btw, I'm doing this as much for me now as to answer you, if you start wondering why I'm putting so much time into it.)

randomhaus64

I'm boring lol GLD, because I think econ is going to shit AEM, because I think econ is going to shit LUCID, because I think elon is going to shit

TheInkDon1

Hi there. I don't touch TSLA. 3% per week without margin is nice, but the risk of bag-holding is too real. What caused that drop on 6/4? Was it a Tweet? One of his, or one of DJT's? Doesn't matter: a $48 drop close-to-close Wednesday to Thursday. And yeah, it came back. This time. But how many $10 CSP premiums is that? Almost 5. And say you were assigned at 284.70, Thursday's close: you don't get to sell that $10 ATM Call now. Your CB might've been about at Monday's open of 355, if you happened to sell an ATM CSP that morning, minus 10 is 345. 345 down to 285 is $60. That's 60 dollars OTM you have to sell if you want to "do it right." $60 OTM today for next week is the 385P at a whopping 0.55 premium. Something to think about. GLD doesn't do that. 3.62 / 316 = 1.145% Times 5 from the margin leverage gives 5.7%. Maybe that's where that came from? I'll go back and look and fix if needed. Cheers!

TheInkDon1

"Well okay, Mr. InkDon, what do I DO with them then, huh?" Buy them back, grasshopper. "Buy them back??!?!?!? But that's a, that's a, that's a ..... *LOSS!*" Yep. Stings a bit, doesn't it? Welcome to the game. But do you remember all those CSPs you sold before that "worked out"? Yeah, all fun and games then, wasn't it? Want someone else to pay for that Put you're buying back? Sell another one to somebody further out in time and lower in strike. Let THEM pay for this one you're buying back. "But you're just telling me to--" <screws up face as if just smelled dog poop, then sneers> "--to ROOOoooooolllllllllLUH!" Yep, that's exactly what I'm telling you to do. Is it "kicking the can down the road"? Maybe. Is' it "locking in a loss"? Absolutely. But if your aim is to never be assigned, that's how you have to play that game. Is it bad? No. ESPECIALLY for something like gold that just doesn't drop sharp and deep. And when it DOES go into a downward funk, it's slow and steady, and can be kept up with the option premiums. So you diligently track your CB, and you don't sell Puts ABOVE it (opposite of CCs). GLD will rebound sooner than later, and you'll be happy again. And I got off on a tangent. Back to "30-delta GLD Puts aren't a lot of premium." So you look up the option chain and there's a 5DTE 34-delta paying 0.7% per week. That's better than the 0.6% above. Next up is a 38-delta paying 0.85%. That's 44% apy. Keep going? The 42-delta is paying 1.0%/week. And finally, the ATM 316P is paying 1.15% per week. 59% apy. Wanna do that? I wouldn't be mad at ya. Wanna even let it get assigned if it came to that? I wouldn't even care about that. Because look at your CB: 316 - 3.62 = 312.38 You'd get to sell Calls at 313. Maybe GLD got down to 313, maybe it didn't. If it did, you're selling CCs ATM for about 3 bucks. CB now about 310. GLD goes down to 310? Sell another ATM Call: CB 307. Keep following it down. But GLD is eventually going to turn back up (with all the chaos in the world today, it can't hep but do so), you let your shares get assigned, then sell another ATM CSP. And congratulations: you're Wheeling ATM. I'll let you go now. Think about it. Work it out for yourself. Maybe even try it. Let us know how it goes.

TheInkDon1

Thank you for proving my point: >With a non-margin account, returns are meh, but solid. It's AH Friday, 6/13/25 as I write this. GLD spot is 316.29. The 32DTE (from Monday) 30-delta Put is the: 18Jul308P selling for 3.55 So ROI is 3.55 / 308 = 1.15% in 32 days, call it a month. So 13-14% apy. Solid, but not too exciting. That's exactly what you're finding, right? And it's not so much that it's so "expensive to keep them cash-secured," because people wheel Costco at $990 per share. *It's that the premiums are so low*. Both of those have 30-delta CSP premiums 1 week out of about 0.55 to 0.6%: *And that's why people wheel stupid stuff like GME:* The **25**\-delta CSP premium 1 week out is 1.6% *3 times as much* at a *better* Delta It all comes down to ROR, or ROI, or ROC, whichever you like to call it: "What profit do I get, divided by capital tied up?" But what was the very next line in my post? >But have a MARGIN account, then it gets exciting. Buying GLD shares, or securitizing GLD Puts, in a margin account, you probably only get a 20% Buying Power reduction (that's what I get with Schwab). So *then* you get to take that little 0.6% return I cited above for GLD Puts a week out at 30-delta and *multiply it by 5!* **3% per week.** That's fun, right? TOO much leverage? Possibly. But that's why I suggest doing it on gold, because *it just doesn't drop that much.* So if you would, go back and re-read my post from there with the idea of reduced BP in mind, and see if it makes more sense. And this is just 'regular' margin in a Cash (non-tax-free) account, not 'Portfolio' margin. If you have a Cash acct and you DON'T have margin enable, you probably should. And I'm not say you need to carry a margin balance. Just get the reduced BP effect that a margin acct gives you. Since you've already been wheeling GLD, I hope this opens your eyes to a better way to play it. Cheers!

TheInkDon1

Thanks, glad to hear you're in agreement on gold as an underlying. Did you notice that gold has been doing well since October 202**3**? So it's not just a recent thing. IAU over GLD in regards to "assignment risk": are you basing that on their share prices? THAT kind of assigment risk? Because I guess you needn't: if you can afford to "collateralize" 1 GLD CSP, then you can do nearly 5 IAUs with the same money. But that's just down to account size and position sizing, and there you may be on to something. Still, for this crazy HyperWheeling ATM thing, GLD's M/W/F expirations have an advantage. I'm with you on GDX, I even trade some with shorter-term Diagonal Call Spreads, but I don't like its choppiness compared to GLD. This graph shows that well: [GLD vs. GDX, 2-year](https://imgur.com/a/W1sbVFU) I picked that timeframe because they were tied in total return at that point. So you got to the same place if you invested in both in June 2023, but which ride would you have rather been on? Notice the long, slow decline in the miners until March. GLD stayed flat. Then the crazy drop in the miners in late '24. GLD barely dipped. GLD 'won' that race over 3 years, 4 years, and 5 years, and then I stopped looking back, because it was going to be the same. But [GDX wins over 1y](https://imgur.com/a/hAU8yYq). Still, "that ride, though." Look at that late '24 drop again, closer up: GDX was 33% up and then dropped down to just 3% up. 30%. GLD said, "Meh. I'ma just drop 5%." Maybe 8, there in that November dip. And [GDX wins the 6-month race](https://imgur.com/a/wYMPukH). But again, the ride getting there. I'll take 'only' 27% in 6 months for the smoother ride of GLD. Especially when I'm trying to run options strategies on it. If I'm just buying LEAPS, then GDX might be better. But doing something crazy like Wheeling ATM, give me the smoother ride of GLD any day. Cheers!

TheInkDon1

Hi, maybe you skimmed over the part where I showed (via the 5y chart) and said that GLD just doesn't go down like that "for a few months." Even 2022, which if you traded through it, was a Bad Year, GLD was down 22%. The worst of it was from April 11 to October 10th, so 6 months. 6 months is 26 weeks, so let's divide 22% by 26 weeks: 0.846% per week. Let's round up to 0.9% / week to make it a tiny bit worse. I won't try to go back to 2022 ETF and option prices, but today's prices, on a percentage basis, should be very similar. I'll use Weekly CSPs, and not the totally-degenerate 1- and 2DTE stuff from my OP. It's Saturday, 6/14/25. GLD is at 316.29. The 6DTE 20June ATM Put is the 316 going for **3.62**. (And notice that there's a holiday next week, so only 4 trading days, which makes the following even more conservative.) What's that as a percentage of the ETF price? 3.62 / 316.29 = 1.1% And that's the beauty of this: *the CSP premium covers the historical expected average dip of the underlying.* ("Except when it doesn't," I hear people saying. I can't address that. I can only work in the realm of averages and probabilities.) But say you get assigned that week, then what? Well, from there it gets tricky to postulate in this "what-if" space. Obviously, you're selling a CC next, but what strike? Obviously, selling at the assigned price works. But then, how to forecast that scenario today? I think selling today's ATM Call is a good approximation, because it's a strike up from today's ITM 316-strike where you got assigned. And so, today's 5DTE 317C is selling for 3.72. That's also 1.1% of spot (closer to 1.2, but I don't round up for these examples). So look: you've 'bought' yourself another week (the following week) of GLD going down by 0.9%/wk. But I think the *better* thing to do would be to sell that CC at your Cost Basis. And that's of course the 316 strike you were assigned at, *minus* the 3.62 CSP Premium collected: 316 - 3.62 = 312.38. Round up to 313 for your CB, to be conservative. And NOW look: your CB is is three whole strikes below where you were assigned. Selling THAT CC would be quite juicy! How to model that right now on the Call side? Is it fair to go 3 strikes below the just-OTM 317 CALL strike? I think it is if you think about how we sold the OTM 316P, but now it's ITM by 3 strikes. So the 5DTE 314C is selling for 5.25. That's 1.6% of spot.

solariac

This is wallstreetbets, not wallstreetthepriceofgoldcoulddrop. Any positions? Maybe you could sell call spreads on GLD?

Bumst3r

$GLD

NuSk8

GLD 400 EO summer

Such_Region2724

!banbet GLD 333.33 4w

Solarshade13

Now that I think about it, I should’ve bought GLD calls

Such_Region2724

!banbet GLD 320 2w

Such_Region2724

!banbet GLD 320 2 weeks

TheInkDon1

Thanks! I remember you from our other conversations, and yes, GLD PMCCs have been incredible; they're almost all I do now. Though I'm slowly migrating into this ATM Wheel strategy.

Simple-One-6705

Bags of puts and holding calls on GLD. Peace sure sounds nice, but my port is gonna not like that. the agony

sam99871

I’ve been selling GLD puts but the problem is it’s expensive to keep them cash-secured. For example, 10 (cash secured) put contracts at say 280 requires $280,000 cash. That’s a lot of money and 10 contracts isn’t many. I can make $2000 over a few months but it’s not going to make me tons of $. Perhaps the solution is to sell puts closer to the money and take a larger chance of being assigned.

6JDanish

I looked into wheeling GLD (in a cash account). The options are highly liquid, which is a point in its favor. The market environment is favorable, given the geopolitical uncertainty. After looking at assignment risk, I decided to wheel GDX and IAU instead. Good luck with your experiment. Please post updates on your progress and lessons learned.

warlock22041

I've finally hedged myself after getting rug pulled multiple times this year. Bought GLD calls. GOLD 4000 EOY

FawningDeer37

lol people who started trading 3 months ago probably think GLD is like a Mag7 level stock.

Disastrous-Wheel-658

Everything is looking good except that the last 3 months the GLD has been mostly rising slowly. We may want to check is in scenarios where is is down for like a few months. You may get "stuck" with assigned GLD and gain may not look at great. Covered calls should help in that case a bit.

jamout-w-yourclamout

I just started buying ditm GLD leaps (~80 delta). I bought my first contract a couple weeks ago and I’m already up 2.15% after immediately being down around 1.5%. And I have 2 years to sell pmcc’s (~20 delta) against my contract while it just does its GLD thing (up and to the right I hope!) I like your theory and am excited to see how it plays out!

LongHealth

Gonna buy more GLD calls next week. Has been and will continue to be free money.

thrillho145

I sold GLD 316 covered calls Price was above 316 at close but now below. They've not been called away yet. Likely won't be? 

LongHealth

Probably just gonna get GLD and VIX calls and call it a week

5tudent_Loans

GLD and VIX spike when volatility and fear is in the market

Amelia_Lysthya

Why not try GLD options?

LongHealth

Bears don’t buy puts anymore. We evolved and now buy GLD calls 🧸🧸🧸🧸🧸

Such_Region2724

last chance to hedge with some delicious delectable demure darling GLD

TheInkDon1

Hi, I came into your thread because I really like GLD, and I sometimes play little Put Credit Spreads. (Used to play PCSs a LOT, a friend and I at work were compariing notes, but left that strategy I guess for reasons. That's been 2 or 3 years ago.) Anyway, I looked at your trade on OptionStrat (I LOVE OS, was an early adopter), and prices have changed a good bit since yesterday. What Delta Put do they recommend selling? And then which one do you buy? Is it base on a Delta difference, or strikes, or something else? Because 10-wide seems awfully wide to me. Let me tell you what I do, and see if it resonates with you or the book. I try to stay completely invested all the time, so when I have a spare $200 I'll throw on a 2-wide PCS on GLD, but only a day or 3 out. The short strike less than 20-delta, but closer to 15. The long strike just 2 strikes below. For instance, I put one of those on today at 2:40 for Monday: the 312/310P for 0.28. Divided by the spread width of $2, that's an ROI of 14% by Monday. But really, Buying Power is reduced by the $2 minus the 28c, so BPR for that trade was

LongHealth

All in GLD. World is fucked.

teskk

$GLD opens $320 on Monday

Pereise1

Not my GLD leaps lol

LongHealth

Calling it now, GLD pumps into close 🤑

TizzyHizzy

Get in on the GLD train before WW3

LongHealth

GLD fucking wilding today

CarpenterDouble1764

If I wasn't banbet'd yesterday I woulda posted my DD on overnight GLD calls, sorry everybody

elmospaceman

realized half my gains are all from GLD calls and puts, i should just stick with that....

doctad92

GLD is literally at ATHs

Hot-Hurry3199

That's crazy! Anything happens and GLD is mooning.

OwnHippo1179

tempted to buy GLD puts for over the weekend

MarsDominus

Bought DELTA and GLD 70-30 split. Selling covered calls on delta

teskk

Explain to me like you would a golden retriever… how is GLD down while gold fires are up?

autrepart

what kinds of strikes / expiries are people playing on GLD

Artistic_Green_4157

Gold is the mf way right now GLD GDX shorting DUST and JDST

LongHealth

Buying GLD calls every micro dip is free money

teskk

June 30th $320 GLD calls

LongHealth

Believe it or not…. GLD calls

LongHealth

Every rich person is all inning GLD

LongHealth

GLD calls or no balls

LongHealth

Calls on GLD still free money after a year of free money. FREE MONEY

Stateof10

So if I'm holding GLD and XLE calls, sell at open?

LongHealth

GLD gang now has so much money we’re gonna print our own currency backed by real gold 💸💸💸💸

ckami_91

GLD looks like a meme stonk LOL

LongHealth

LIVE LOOK AT GLD BULLS: “Ripped topless men wearing gold jewelry while sipping gold infused drinks. Surrounded by models wearing gold coloured bikinis and gold nipple piercings.” “Behind them can be seen a collection of gold plated luxury vehicles including Lambos. A cybertruck is being used as a portable dumpster.”

EffectiveWafer4981

God damn! Why tf have I not had GLD on my watchlist....

throwaway2676

Wtf are you talking about? GLD was way up yesterday and it's way up again in premarket

LongHealth

GLD was heavily shorted before this. A lot of people called the top not expecting the war. GLD calls at open as the rats abandon ship.

LongHealth

GLD taking off. Time to pick my gold plated lambo

Sea_Ingenuity_4220

“Should seniors invest in GLD at these prices?” Thats the first article I get when googling GLD 😂 😂 😂

Pm-Me-Anything-New

Sold my fucking $GLD calls too early FUCK

LongHealth

As a bear I’ve learned puts are rigged and the way to make money is GLD calls 🧸🧸🧸🧸🧸

LongHealth

GLD - For the wise bears 🐻

rbraalih

Narrator: short oil and GLD was not in fact the play

teskk

Am I still ber if I buy calls on GLD? The ultimate fallacy.

leatherdungarees

SPY immediately back to 602 on open - GLD plummets and wipes out the calls

old-wizz

This is dirty money. GLD calls is the way to go

old-wizz

It just shows ,this year GLD calls, are a must have

Simple-One-6705

Calls GLD, Puts QQQ and IonQ. Instead of calculating simulated gains, i'm not bothering to look, im preparing for dissapointment. I know the market is gonna creep up, I know ionq is gonna be stimulated at a certain level. I know.. I'm destined to put the fries in the bag

redhed16

By option market open my GLD call gonna go back to flat and all my other options not gonna go up a single tick

LongHealth

Only dips I’m buying are in GLD

sikhster

You mean you guys didn’t buy GLD and ITA when Trump got elected?

fakemedicines

Today I sold $5k of GLD I had been annoyingly bag holding for like a month waiting for it to get back to $213. I can't win.

Narcissist_X

GLD

elmospaceman

thank god i bought GLD calls at close, my port is saved

Dumdumkiller

I didn't buy GLD calls to buy SPX calls 😬 At least I sold my GLD puts for a profit (+66%) before the ungodly pump (sorry to whomever bought that worthless garbage)

iumesh

Yay for owning GLD 🏆

snbgames

Alright then mebbe 50% GLD 50% oil 😁

Spicyboi981

Lost most of my port over the past month. But been riding a bunch of 6/20 puts out anyways I bought in April. Yesterday I saw oil bull flagging and picked up super cheap calls. Bought an RTX 150c for tomorrow at $1. Today was on break and had the same feeling about UVIX calls, and snagged two $30cs. Been holding GLD calls for 6/20 and 7/18 too

LongHealth

GLD just pumped again

cruisin_urchin87

Fuuuuuck. Sold my 15 0 GLD $312 6/20 calls for $4.10 today. Somebody turn back time. Fuuuuuck

LongHealth

Load up GLD calls overnight

John-AtlasGames

I wish options were being priced so I could understand the bottom line for my port right now. Obviously some calls are in the toilet, except on GLD, but puts on TSLA and CLF should do nicely. Of course some moves I made today turn out to be horrible timing. Too soon reducing my positions in TSLQ and UVIX... So it goes.

Continentofme

Dear Santa, SQQQ to $27 ASAP ADBE bitchass needs to get to $390’s to cover this 480 call 🥲 GLD better stay her pretty ass above 115 ORCL back to 180’s or lower AMD… quit the theatrics

LongHealth

Yall shoulda just bought GLD man

thrillho145

Looks like my GLD covered calls I put higher than ATH are gonna get assigned tomorrow

Otherwise-Coyote6950

GLD and Newmont

RampantPrototyping

Congrats man. Did you buy real physical gold or GLD?

LongHealth

GLD parabolic

theXJlife

That and GLD my only overnight calls

softboiledjadepotato

You don't have GLD???

LongHealth

GLD SQUEEZING. A lot of people shorted it thinking it topped.

bub356

I’ve been saying to buy $GLD for weeks, now look at ya.