I rolled GLD calls in a taxable account as follows:
11/10/2011 09:41:06 Bought 4 GLD Nov 19 2011 162.0 Call @ 10.3 -4,133.04
11/10/2011 09:42:52 Sold 4 GLD Dec 17 2011 163.0 Call @ 11.2 + 4,466.87
These calls are deep in the money. I got to have my cake and eat it too. I was able to roll up another dollar in strike price and get paid $333.83 for doing so. At some point if GLD takes off too much I can see this yumminess coming to an end. It's pretty amazing that I can roll when this deep in the money and the extreme downside protection helps this gal sleep like a baby at night.
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