Trade of the Day: SPDR Gold Trust (ETF) (GLD)

We expect earnings season to give gold a boost

By John Jagerson and Wade Hansen, Editors, Strategic Trader

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As we get into earnings season and volatility is picking up, more and more investors seem to be moving a portion of their assets to the safe-haven of gold. We are seeing evidence of a move to gold with SPDR Gold Trust (ETF) (NYSEARCA:GLD) breaking up through resistance at $123 on its daily chart on Friday.

With this resistance break, we are anticipating GLD will continue moving back up toward its next resistance level at $125 — if not higher — as volatility continues to pick up as we go deeper and deeper into earnings season.

‘Buy to open’ the GLD November 125 Calls (GLD171117C00125000) for a maximum price of $1.15.

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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered Market Technician (CMT) designees, are co-founders of, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by clicking here.

Most recently, John and Wade are co-options strategists of Turbo Trader Live — a live, interactive trading room service that runs two hours every trading day the market is open. Turbo Trader Live focuses on long call and put options, as well as long and short vertical spread strategies. Find out how to get in on the live trading action and start making real profits by clicking here.

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