The set-up: Tuesday, I bought to open 8 Newmont Mining Dec. 15 $37 calls at $2.46 each as a play on precious metals ahead of the Fed meeting, with gold rising in anticipation of the afternoon press conference.

The thinking: This is my favorite precious- metal trade because it is the easiest chart to trade off of, the options are high quality – there’s a ton of open interest and intraday volume – and I have made six round-trip trades on this one this year, and all six have been profitable. If it ain’t broke, don’t fix it, so here I go again.

Read about Davis Martin’s August play on NEM

Listen to Davis discussing Newmont Mining in a Raging Bull podcast from August

What happened, and how I’m playing it: NEM had a picture-perfect close Tuesday and is green in the premarket today.

I’m a safe trader who focuses on consistently making money rather than risk losing it. I’ll be up 10 percent and maybe more on this trade when the market opens, and I’ll be taking profits. No reason to risk losing money because of something the Fed might say or do later on today.

What’s next: After getting paid nice and early today, I’m expecting a relaxing day. I don’t know what the Fed will say but “selling the news” with the Fed always feels to me like gambling, so don’t do it.

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Davis Martin is the head trader at Dailyprofitmachine.com. He trades SPY calls and puts and swing trades individual stocks and stock options. At the time this article was published on RagingBull.com, he had 8 Newmont Mining Dec. 15 call options and was planning to sell them early today, as described in the article. He has traded NEM options six other times this year.

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