GLD – SPDR Gold Trust (Last:92.29)

With gold futures approaching a tradable turn, we can try bottom-fishing in this vehicle by bidding 3.10 for two August 89 calls (GLDHK) .  That would be an attractive price if the stock dips down to 88.87, a Hidden Pivot support, before turning around.  You can pay a dime more if the calls are out of reach. ______ UPDATEGLD is hanging tough above 90, so we’ll put this trade aside for now.