r/options • u/casanova_blueballs • 1d ago

Trading Gold (options)

Anyone here who trades Gold (GLD). How do you trade it? Do you use leverage to short/long gold or there are options available on Gold just like SPY and QQQ. If available, what’s the ticker symbol and are the liquid? What are the pros and cons of trading Gold options compared to equities. Thank you in advance

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u/AKdemy 1d ago edited 1d ago

It's not a good idea to think of trading something when you don't even know where to start.

Have you ever tried to Google "Gold options"? If I do that, it shows me quotes, contract specifications and all sorts of other details from exchanges.

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u/dimoooooooo 1d ago

Fucking funny that you got downvoted for this real answer. You should read up first and then consider possibilities after looking through data available. Starting with a thesis then trying to create some self fulfilling prophecy is a losing game

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u/iron_condor34 1d ago

kid dynamite

This blog post needs to be more popular. Lol

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u/AKdemy 1d ago

Well, that's the way things frequently work.

Some people are too lazy to do any basic research. They just dump a question online. "Consult" ChatGPT and have no idea what they do or buy.

A bit later, they ask what they should do to recover after they have lost a lot of money. Many people are also lured into some "trader's" discord or the like and pay hundreds of dollars to people who have no idea what professional trading looks like.

Eventually, they blame market makers for their demise because they always move markets against them :)

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u/dimoooooooo 1d ago

True that. Thanks for your contributions to quant exchange and r/quant by the way. I’ve seen them over the years and they’re superb

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u/fperegrine21 20h ago

I trade GLD ETF. It's unit price is high and the options' liquidity on weeklies is excellent. Because the unit price is high, the commissions are bearable at high lot sizes.

I do diagonals. I am currently long on June 2026 290 calls, and try to sell 0DTE on Monday, Wednesday and Friday early those days. (GLD has no expiry on Tuesday and Thursday). This setup has saved my ass since Nov last year.

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u/Prestigious-Ad-7927 9h ago

I did this same exact strategy from Aug-Nov of 2024 and it was my best trade of the year. I got stopped out and did not re-enter on the breakout. It would have been another 10x’er. I’m looking for another good entry.

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u/AlwaysTrading1 1d ago

This is true, you really have to study what you want to trade, or join an Options Trading groupnthay you really trust. Options nearly took everything from me. I lost 100's of thousands in the market, even paying thousands to gurus to get their strategies. It was not until I found a free Options Trading group that actually cared about people. They tell all their members to start with only $100 in their account, then they teach them how to grind their way up. They give one trade every morning, then they help you on that specific trade. It's nothing like I've ever seen before. Who would have known that there was even good people out there anymore. But yeah, I started 60 days ago with my $100 bucks, and now I am at $2,000 just taking their one trade a day. I wish the whole world would know about these people, but really, there are only like 30 people in the group, i think. So I feel rather blessed to be a part of it. Just remember, there is always hope. My finances were draining my life and my marriage... now this. So just keep pushing forward, and let me know if you have any questions, I can always try to help answer them. Take care.