Back on May 10th I noted the divergence between the physical gold trust PHYS and the gold ETF GLD and observed that there might be potential for a pairs trade in that divergence.
Also on May 10th (I learned today), the anonymous proprietor of the new blog ETF Base made a similar observation — and acted on it, noting yesterday that his pairs trade “work[ed] out beautifully”. Nice work, anonymous blogger.
Incidentally, as I noted elsewhere, I picked up a few more DEC 109 GLD puts yesterday at $3.85, to complement the ones I bought last week at $4.
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