Trading gold

It looks like gold is repeating it's pattern of hitting $1000 and pulling back. On GLD and GDX shares that are owned in various accounts I'm writing out of the money covered calls this morning. Generally speaking I'm looking for at least $100 per contract. For example, I just wrote some GLD March 106's for $1.20. This brings in nice income while allowing for participation in significant appreciation.

As I've stated I'm looking for a new entry point to write some out of the money puts on GLD and GDX. I'm waiting to see where the new support levels are. I keep forgetting to give SLV it's props but it's in the mix as well.

Good luck trading to all.