Feb Gold Option Expiry,..

Bill,
Nothing changes,

If anyone was in any doubt why Gold is being so forcibly punished in the last week or so, against even Silver or it’s other correlative buddies then here’s a good reason below:

Option expiry for Feb Gold kicks in on next Monday’s close, There is no relative comparable for the Silver Sector this month,

Here’s a list of the Call Open Interest overhanging the Strike Prices for Feb Gold:

Notice how 1700 was defended with almost everything the Option Writers clearly had and no wonder with some 8375 Options at stake up at that level,

The next big target where much of the cluster of Open Interest lies is around the strike prices of 1680 (2491 Options) and 1675 (4326 Options),

Is it any wonder that with some 48 hours of trading to go until expiry, the price has now been plundered down below these levels to ensure all these Options Expire worthless!

My guess is us Gold Longs can relax now, because the Option Writers have little further incentive to push the Price down much further given the relatively low level of Open Interest over the Strike Prices below 1675!

Wake up CFTC, Who am I kidding?
Best,
Rich