So as briefing noted, some nice volatility poppage in GDX yesterday. AEM here is one of the more volatile decent-size miners, and we’re seeing options right around 52 week highs. With the stock on the very broken down side.
Keep in mind also this is only a few days past earnings, so no real news expected, it’s just ugliness.
On the one hand, I’m not averse to owning gamma when volatility breaks out and the stock is hitting new levels. On the other hand, I like that sort of play better in an “up” name. I am long gamma small here now, but not real thrilled with the position and would sooner bag out than add on more.
