### Comment:
What do you mean no leverage? I just buy GLD options.. also the bigger miner have more to gain by a spike in gold as they extract more gold.

### REPLY:
Options suffer from theta, but if you want 'real' leverage, buy options on junior miners.  
  
 Junior miners are in early stages, and haven't hit growth yet. Large miners cannot grow as fast and are already largely exposed to the market. Do you think Kirkland Lake is going to 10x over the next year?

### END.