Carter Worth spoke on CNBC's "Options Action" about SPDR Gold Trust (ETF) GLD. He analyzed the stock from a technical standpoint and concluded it is going to trade higher.
Worth compared the performance of gold and the S&P 500 in the period since 2000 and since 2007, and he showed it performed better than the index in both time frames. He also showed that gold performed better than other commodities. Worth thinks the SPDR Gold Trust (ETF) is about to break out on the upside, and he wants to get a long position in the name.
Mike Khouw suggested a bullish options strategy in SPDR Gold Trust (ETF). He wants to buy the August 121/127 call spread for $1.80. The trade breaks even at $122.80 or 1.87 percent higher. It can make a maximal profit of $4.2, if the stock moves 5.36 percent higher.
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