Options Action: GLD
Considering the recent sharp gains and then steep declines in gold, how should you play the precious metal now?
According to Brian Stutland of Stutland Equities, in this environment the best trade may be an options trade in the GLD.
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Trader disclosure: On Sep 8, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" trader; Seymour owns (AAPL); Seymour owns (BAC); Seymour owns (INTC); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Finerman owns (AAPL); Finerman owns (BAC); Finerman owns (JPM); Finerman owns (GOOG)
For Karen Finerman
Finerman and Finerman’s firm own (AAPL)
Finerman’s firm own (BAC) leaps
Finerman’s firm owns (JPM) stock and (JPM) leaps
Finerman’s firm owns (IBM)
For Brian Stutland
Stutland Equities is a market maker holding positions in (VIX) futures and options and (VXX) stock and options
Stutland Equities holds hedged option positions in (SPX) and (SPY)
CNBC.com with wires.