@CaptainGrumpy you are a gentleman, thanks for your detailed...

@CaptainGrumpy you are a gentleman, thanks for your detailed reply (and sorry for my late one)

certainly not looking for margin or any advanced strategies, which is why when you first mentioned it I liked the simplicity of buying ootm SPY put options for each month

was interesting the GDX/J puts you mentioned as well. You have an accurate memory on my interest in gold, so like this idea too and will investigate further

cheers