Trade Entered: GLD Gold ETF

Today I sold GLD March 90 puts for $1.25 ($125) each in a traditional IRA account. These puts are cash covered so the return if they expire worthless is 1.38% for 26 days or 19.37% annual.

In this account we want to enter into this gold position as our IAU stock got called away. We are happy to switch from IAU to GLD because the strike prices in GLD are in one dollar increments and the bid/ask spreads are much narrower.

Gold is money, gold is a safe haven, gold is a hedge, gold is in a long term bull market, gold is....well you get the point.