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August 29, 2013  Thu 2:14 AM CT

NUGT: SEE CHART GET CHAIN FIND STRATEGIES
A trader is counting on a floor in the Gold Miners Bull 3x Shares exchange-traded fund.

optionMONSTER systems show that 2,400 September 45 puts were sold for $0.70. There was no open interest at this out-of-the-money strike, so it is a new position.

This put seller has an initial bullish bias but is really just looking for the NUGT to remain above $45 through expiration in mid-September. (See our Education section)

The NUGT, which is designed to deliver triple the performance of the NYSE Arca Gold Miners Index, fell 8 percent to $77.73 yesterday. It was above $105 on Tuesday but bounced off support at $50 at the beginning of the month. The fund just underwent a 10-to-1 reverse split to keep it from dipping too low.
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Options Academy: Ron's Risk Calculation--A Real Life Example

It is rare that I get a chance to give a real-life, real-time example in my articles that the readers were not only following but were actually involved in at the time the event is happening. Well, that is where we are right now in our QQQ trade from last week. Let's recap the trade itself.

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