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David Bartosiak's Market Vectors Junior Gold Miners ETF Trade

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Speaking on Bloomberg Markets, David Bartosiak of Zacks.com said that gold had a really sharp move higher since June and he added that he's looking to fade a move in gold. He thinks it's a part of the Brexit trade and the "risk off" trade.

He wants to use Market Vectors Junior Gold Miners ETF (NYSE: GDXJ) to bet against the uptrend in gold and his strategy involves selling the July 48.50/49.50 call spread for $0.45. If the stock trades below $48.50 at the July expiration, Bartosiak is going to make a profit of $0.45. If it trades above $48.95, he's going to start to lose money and his maximal loss is $0.55.

 

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Posted-In: Bloomberg Markets David Bartosiak Zacks.comCommodities Options Markets Media