I did not look for the SLV, but I executed one call contract on GLD but not at the proposed 115 but at 120. Moreover this also reduce the variation with the price action of the option relative to the GLD price. While I am a bit exposed to the a large swing on the negative side than with a straddle I prefer this approach, but it remain up to you to adapt your style to your risk level. I am also not sure Greg execute every recommendation but his advice remain very good for me.
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If only one side of the trade he "outlines" at his blog where he "says" he posts "actual" trades gets executed, then he should update the information as such. As of right now he "might be" long those SLV put contracts as they "finally" traded 25 contracts (total) at .06. That certainly "looks like" a big enough trade for Greggy poo to handle. That's basically a $150 bet..total! LOL That's the "fact." I gave him the market price when he posted the trade. I'm tracking his "real time" based on what he tells you to do at his blog. It clearly states that all of the trades listed should be straddles.
It's only a straddle until you're confident enough about the direction of the move.