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🖤💗 BLINKFANS MARKET TALK: MY IAU PUT SCALPING JOURNAL — USING RSI TO READ GOLD, SILVER AND OIL! 🐱📈✨

🥇💛 1️⃣ Why Am I Trading IAU Puts?

OMG BLINKS! 💖 Today, I want to share my trading experience with IAU, the iShares Gold Trust, and explain why I decided to scalp put options instead of simply buying gold and waiting for the price to rise.

My trade involved the IAU $76 put expiring on 13 November 2026. Looking at my transaction history, I sold one contract at $1.30 on 14 October, bought one at $1.26, sold another at $1.30, and bought one back at $0.94 on 15 October.

My strategy is to capture the decline in an option’s premium after selling it, provided I can close the position at a lower price. Rather than predicting the exact direction of gold for the next few weeks, I am looking for smaller opportunities in the options market.

The important distinction is that I am trading the option premium, not necessarily making a directional bet that gold must rise. When I sell a put, I benefit if the option’s value falls, all else being equal. However, if gold drops sharply, the put premium can increase and create a loss.

💰🐱 2️⃣ What Did My IAU Trades Earn?

Let’s break down the transactions, BLINKS! 📊

My first round trip was selling at $1.30 and buying back at $1.26. The difference is $0.04 per share, equivalent to approximately US$4 gross profit for one standard 100-share option contract.

My second round trip was selling at $1.30 and buying back at $0.94. The difference is $0.36 per share, equivalent to approximately US$36 gross profit.

If both pairs represent correctly matched opening and closing trades, my combined gross profit is approximately US$40 before commissions, fees and other trading costs.

That is the appeal of scalping: I do not necessarily need a huge market movement to make a small profit. But I must remember that small gains can be overwhelmed by one large adverse move.

I also need to distinguish between realised profits and the value of any open position. The calculation above assumes both sell orders opened short positions and both buy orders closed those positions.

📉✨ 3️⃣ What Is Happening to IAU on My Chart?

My chart shows IAU trading around $77.94, up 1.14% at the displayed snapshot.

The broader chart tells an interesting story. IAU previously reached approximately $91.93 before falling towards a low around $74.44. It then recovered before pulling back again.

This tells me that gold has experienced considerable volatility. The rebound from the low is encouraging for buyers, but the price has not returned to its earlier peak.

The area around $77.76 is an important nearby reference level on my chart. I would watch whether IAU can remain above this area and establish a stronger base. Above the current price, the region around $79–$80 appears to be a potential resistance area based on the displayed price action.

These levels are observations, not guarantees. If IAU breaks below support, the next move could be lower. If it breaks above resistance and holds, bullish momentum may improve.

For my put scalping strategy, I want to know whether the market is stabilising or breaking down before deciding whether another trade is worthwhile.

📊💖 4️⃣ Using RSI to Understand Gold’s Momentum

This is where my technical analysis becomes useful, BLINKS! 🐱✨ RSI stands for Relative Strength Index. It measures the speed and magnitude of recent price movements on a scale from 0 to 100.

Traditionally, an RSI above 70 is considered overbought, while an RSI below 30 is considered oversold. However, these levels are not automatic buy or sell signals.

My chart shows three RSI readings:

* RSI 6: 46.69

* RSI 12: 43.63

* RSI 24: 45.01

The six-period RSI reacts more quickly to recent price changes. The 12-period RSI provides a medium-term view, while the 24-period RSI gives me a broader perspective.

All three readings are below 50 but above 30. This suggests that momentum is relatively neutral to slightly weak rather than strongly bullish. I would not describe IAU as oversold based on these readings alone.

I would also watch whether the shorter RSI rises above 50 and whether the longer readings follow. That could suggest improving momentum. Conversely, if the RSI readings fall while IAU breaks support, I would become more cautious about selling puts.

The key is confirmation. RSI works better when combined with price action, support and resistance, volume and the broader market environment.

🥇💵 5️⃣ Why Gold and Interest Rates Matter

Gold is often viewed as a safe-haven asset, but its price can react in complicated ways when inflation rises.

If inflation remains elevated, investors may expect interest rates to stay higher for longer. Higher Treasury yields can make interest-bearing assets more attractive compared with gold, which does not pay interest.

A stronger US dollar can also pressure gold because gold is priced internationally in US dollars.

However, geopolitical uncertainty, expectations of future rate cuts and demand for safe-haven assets can support gold.

That is why I do not want to sell puts simply because I believe gold should rise. I need to consider what is driving the market and how quickly sentiment can change.

For my IAU trades, I would monitor the US dollar, Treasury yields, inflation releases and the Federal Reserve’s policy outlook.

🎯🐱 6️⃣ My Plan for the Next IAU Trade

My next step is to remain disciplined rather than force another trade.

First, I would watch the $77.76 area to see whether IAU can hold its nearby support. Second, I would monitor the potential resistance zone around $79–$80. Third, I would look for RSI to improve alongside price action before becoming more confident in a bullish setup.

If I sell another put, I must be comfortable with the strike price and the possibility of assignment. A standard $76 put represents a potential obligation to buy 100 IAU shares for US$7,600 per contract if assigned.

I also need a clear exit plan. If the premium falls enough to meet my profit target, I can consider closing the position. If IAU falls sharply and the option premium rises, I must be prepared to manage the loss rather than hope for a recovery.

My goal is to build a repeatable trading process, not to win every trade.

🥈✨ 7️⃣ Why I Also Watch SLV — Silver’s RSI Story

SLV, the iShares Silver Trust, gives me exposure to silver, which has both precious-metal and industrial-demand characteristics.

Silver can move differently from gold because industrial activity also influences its outlook. When economic growth expectations improve, industrial demand can support silver. When investors become worried about weaker economic activity, silver may face additional pressure.

For RSI, I would watch whether SLV moves above 50 as price momentum improves. If RSI approaches 70, I would look for signs that the rally is becoming stretched rather than automatically selling. If RSI falls below 30, I would check whether the price is stabilising before considering a bullish trade.

Silver can be volatile, so I would not assume that an oversold RSI means the bottom is in. I would also compare SLV’s price action with gold and watch for changes in the US dollar and interest-rate expectations.

I do not have an SLV chart in this post, so I will not invent a current RSI reading. My approach is to wait for the actual indicator and price action to confirm the setup.

🛢️🔥 8️⃣ USO — Using RSI to Watch Oil and Inflation

USO, the United States Oil Fund, is another instrument on my watchlist. It provides exposure to oil futures-related movements rather than simply tracking the spot price of crude oil.

Oil matters because rising energy prices can increase transportation and production costs, potentially adding to inflation pressures. If investors start expecting interest rates to stay higher for longer, growth stocks and long-duration bonds may face pressure.

For USO, I would use RSI to identify whether momentum is strengthening or weakening. An RSI above 50, combined with higher price highs and strong trading activity, could support a bullish momentum view. An RSI below 50 with lower price highs could indicate weaker momentum.

If RSI rises above 70, I would be alert to a potentially stretched rally, but I would not short oil automatically. Oil can remain strong when supply disruptions or geopolitical risks persist.

Likewise, an RSI below 30 does not guarantee that oil has reached its bottom. I would check the actual chart, support levels, crude oil developments and demand expectations before entering a trade.

🖤💗 My BLINKFANS Conclusion

My IAU put scalping strategy is about capturing small changes in option premiums while controlling downside risk.

IAU helps me monitor gold, SLV gives me another view of precious-metal and industrial demand, and USO helps me understand energy-market movements and potential inflation pressure.

RSI is one tool in my trading journal, not a magic indicator. I want to combine it with price action, support and resistance, and a clear risk-management plan.

My rule is simple, BLINKS: protect my capital first, take trades only when my setup makes sense, and never mistake a premium for guaranteed income. 🐱💖📈

Educational trading journal only. Options and commodity-linked ETFs involve substantial risk, and all trades can result in losses.

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