Remember the discussion we had on selling gold puts a while back? http://bbs.creaders.net/stock/bbsviewer.php?btrd_id=625921&btrd_trd_id=363227 Let's say we sold gld Dec $88 puts on 5/26 at $5.1, at that time gld was around $91, gold spot was around 930. Since then gld has rallied to $97 and came back down to $89. I just took a look at the dec $88 put, with GLD at $91, put is under $4. imp vol came down from the high 20s to the low 20s. I definitely like the idea of selling gld mid 80s puts. gold may not rally, but it has a floor.