Joe Tigay's SPDR Gold Trust (ETF) Trade

Joe Tigay of Equity Armor Investments said on Bloomberg Markets he wants to add SPDR Gold Trust (ETF) GLD to his portfolio in case inflation increases.

Instead of buying equity, Tigay wants to sell the March 115 put in SPDR Gold Trust (ETF) for $0.76. If the stock trades below $115, he's going to have to buy it and he's going to start to lose money on the trade below $114.24. He added if he gets long the stock, he's immediately going to sell a call option against his long position to generate more income.