GDX
GDX · Sep 23, 2026
$93.22
Shares
Buy on a dip
Index fund, no fair value. It is 5% or more below its high: that is the dip we buy.
How we value it ›Prices as of 9:52 AM ET, Sep 23. Check the live quote before you send an order.
The put
Skip
Skip the put. The money looks good, but GDX swings more than it pays. Want GDX? Buy shares.
If it goes against you: you buy 100 shares at $90, which after the $322 you keep works out to $86.78 a share. Below $86.78 you are down on the trade. From that day the shares take above is the one that applies.
The order, if you sell it anyway
You get$322 (limit about $3.22)
If it fallsBuy 100 shares at $90
Cash to hold$9,000
Close earlyBuy back at about $1.29 ($129)
Chance you buy the sharesabout 36 in 100
ContractGDX Oct 30 $90 put
ActionSell to open
In your broker app: open the stock → Trade → Options → Sell to open → pick the contract shown here.
Why skip
The put: Oct 30, $90 strike, 37 days out. Pays $322. Roughly a 36-in-100 chance you end up buying the shares.
On paper: 35% a year. That number assumes GDX keeps moving like it did the past two years. Take that away and it is -2% a year. That is why we say skip.
If you already own 100 shares
Income call
For income on GDX you already hold: sell the Oct 30 $110 call and take $99 now. If GDX climbs to $110 by Oct 30, your 100 shares are sold at $110, so only do it if you're happy selling there.
If it climbs past $110 your 100 shares are sold at $110 and you keep the $99. That is the trade working, not a loss.
The call order
ActionSell to open
ContractGDX Oct 30 $110 call
You get$99 (limit about $0.99)
If it climbsYour 100 shares sell at $110
Chance your shares are soldabout 15 in 100
After removing the trend-11% a year
First take on GDX. Result Oct 30. See the record
Everyone sees the same card. It is not advice for you personally. You can lose more than you collect.
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