Todd Gordon's Newmont Mining Corp Trade

He thinks the recent economic data point to a possible interest rate hike, which should strengthen the U.S. dollar and push gold lower. Gordon analyzed a chart of Newmont, and he concluded that the stock should drop to $31. He also thinks that its resistance is at $36.

Gordon wants to take a short position in the name using options and he wants to buy the October 28, 33/31.50 put spread for $0.47. His stop loss is at $36.25, just above the resistance. The trade breaks even at $32.53 or 4.2 percent lower from the closing price on Friday.<?p>