$UGL 20270115 50.0 CALL$ Increase exposure to gold. More leap calls. Theory is higher oil prices translates to inflation, which translates to gold price going up. That's the theory. Time will tell.
$GLD 20270115 400.0 CALL$ Added leap call for gold. My opinion is, oil will be repriced after the war, and a new bottom will form. Inflation will follow suit. I buy gold in anticipation that inflation will go up for 2026. We'll see.