The Options were up over 200%

Here’s how I traded it:

I made two trades on these contracts, put in about $9600 in total capital (all trades sent out to my members BEFORE I ever trade them) and then sold these for well over $9000 in profit just a few days later.

Not a bad week at all for old “El Jefe” here!

Here was my reasoning:

Of note, stocks that have been beaten down by the strong Dollar and high rates are in the early stages of making a comeback.  

Most notable to me right now are miners.  This is a great-looking reversal trend that has a good macroeconomic reason to continue.

If I like miners, then GDX is usually my go-to trade.  If I want to add some extra leverage to that trade then I go with NUGT, which is my trade idea for this week.

The miners made a significant bottom over the last 3 months.  They are just now breaking out above the recent range and closing in on the 200-day moving average.

Most trades completely gave up on gold and commodities in general over the summer. These stocks are up quite a bit already from those lows, but I still think they have room to go.

If I am wrong, I am looking at a close below $30 (which has been recent support) as a stop loss on the trade.

If things go my way, I think NUGT has range to $38, then near $42 (the 200-day moving average) as the two targets I will focus on to the upside. 

Hopefully, interest rates will continue to drop and the US Dollar will slide.  Those will both give a boost to the trade.