Shorting puts as the stock plummeted to within a nickel of our target yesterday morning, we’ve legged on the June 25-June 23 put spread six times (or a multiple thereof) for a debit of 0.08. This means that the worst we can do at expiration is lose a total of $48 with GDX trading 25 or higher, and the best we can do is make $1,152 if the stock is below 23. It is nearly riskless insurance against prolonged weakness in gold, and we can leg out of it just as we legged into it, possibly achieving profits even greater than the $1,152 potential that we could realize by sitting on the position till June. For now, do nothing further.