Jeff Gundlach buys S&P 500 puts, eyeing gold

CNBC/Michael Sheetz/07-27-17

“Bond King” and widely followed investor Jeffrey Gundlach recently purchased five-month put options on the S&P 500 index, Reuters reported Thursday. Earlier, the DoubleLine Capital CEO tweeted about gold, a sign he may be getting cautious, or at least partly hedging the equity market here.

Gundlach is trying to capitalize on the lowest CBOE Votality Index level since December 1993, according to the Reuters report.

…Gundlach in an earlier tweet Thursday pointed out that the price of gold is at a “key juncture.”

The chart below illustrates the “coiling,” a pattern similar to a snake ready to strike, which Gundlach referenced.

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