The world’s favorite precious metal, and the hottest social network have more in common than you might think. They are both headed lower, at least if you believe last Friday’s "Options Action."

First we traded gold. Oppenheimer’s Carter Worth – who called a top for gold on the March 2nd "Options Action" – still thinks bullion is breaking down and made the case to sell into any strength.

CRT Capital’s Mike Khouw got on board with Carter’s call, and put forward a bearish trade on the GLD. Mike suggested buying the July 153-strike put for $3.25. His trade and payout are below.

MIKE’S GLD TRADE

• BUY THE JULY 153-STRIKE PUT FOR $3.25

HOW MIKE’S GLD TRADE MAKES MONEY

• PROFITS BELOW $149.75

• LOSSES ABOVE $149.75

We took a similarly dim view on Facebook . The stock was sold to everyone and there mother. And with few incremental buyers, and a valuation that would make even the pets.com CEO blush, our panel reasoned there exists few reasons to be bullish. But, people still own the stock, and many want their money back. So while we were in no way bullish on the stock, Dan Nathan of Risk Reversal.com did suggest a bullish options strategy that could help investors recoup their cash should Facebook get a pop.

GLD News & Analysis

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 Gold Prices Slide, Settle at $1,386 Per Ounce - 16 May 2013 EDT

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