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VRA Letter: Update on GDX calls

Good Wednesday afternoon. While we have the exact GDX calls that we want to act on (5/15 $98 calls) the premiums are still too high for us to act. The reason for this is the amount of volatility we’ve had over the last couple of ...

Posted On March 25, 20262 MIN Read
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Good Wednesday afternoon. While we have the exact GDX calls that we want to act on (5/15 $98 calls) the premiums are still too high for us to act. The reason for this is the amount of volatility we’ve had over the last couple of weeks…it’s just going to take time for options premiums to adjust lower.

The set-up for GDX remains perfect….literally as good as it gets on the VRA System (which is great news for Snowline Gold and Vista Gold)…but just too rich for us to take action on GDX calls.

As long as we have a floor in for US markets, and as long as we see good developments with the war ending, these premiums will adjust lower in the days to come.

One concern about this war; with marines set to arrive this week and with it being entirely possible that no deal is reached, there’s a more than decent chance that we’ve yet to see the end of military action.

We’ll stay on top of GDX calls and let you know when we’re closer to taking action, because again, we love the set-up here....

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