<SEC-DOCUMENT>0000950123-17-008136.txt : 20170817
<SEC-HEADER>0000950123-17-008136.hdr.sgml : 20170817
<ACCEPTANCE-DATETIME>20170817094618
ACCESSION NUMBER:		0000950123-17-008136
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170630
FILED AS OF DATE:		20170817
DATE AS OF CHANGE:		20170817
EFFECTIVENESS DATE:		20170817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			U S GLOBAL INVESTORS INC
		CENTRAL INDEX KEY:			0000754811
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				741598370
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-02220
		FILM NUMBER:		171037826

	BUSINESS ADDRESS:	
		STREET 1:		7900 CALLAGHAN RD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78229
		BUSINESS PHONE:		2103081234

	MAIL ADDRESS:	
		STREET 1:		7900 CALLAGHAN ROAD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78229

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED SERVICES ADVISORS INC /TX/
		DATE OF NAME CHANGE:	19950321
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0000754811</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>06-30-2017</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>06-30-2017</reportCalendarOrQuarter>
      <filingManager>
        <name>U S GLOBAL INVESTORS INC</name>
        <address>
          <ns1:street1>7900 CALLAGHAN ROAD</ns1:street1>
          <ns1:city>SAN ANTONIO</ns1:city>
          <ns1:stateOrCountry>TX</ns1:stateOrCountry>
          <ns1:zipCode>78229</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-02220</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Susan McGee</name>
      <title>President/General Counsel and CCO</title>
      <phone>210-308-1234</phone>
      <signature>/s/ Susan McGee</signature>
      <city>San Antonio</city>
      <stateOrCountry>TX</stateOrCountry>
      <signatureDate>08-16-2017</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>170</tableEntryTotal>
      <tableValueTotal>292129</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
    </summaryPage>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
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<DESCRIPTION>INFORMATION TABLE FOR FORM 13F
<TEXT>
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   <infoTable>
       <nameOfIssuer>AT&amp;T INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>00206R102</cusip>
       <value>338</value>
       <shrsOrPrnAmt>
           <sshPrnamt>8970</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>8970</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>AMERICAN INTL GROUP INC</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>026874784</cusip>
       <value>454</value>
       <shrsOrPrnAmt>
           <sshPrnamt>7265</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>7265</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>AMERIPRISE FINL INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>03076C106</cusip>
       <value>438</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3438</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>3438</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>APPLE INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>037833100</cusip>
       <value>457</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3174</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>3174</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BED BATH &amp; BEYOND INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>075896100</cusip>
       <value>409</value>
       <shrsOrPrnAmt>
           <sshPrnamt>13467</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>13467</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BROWN FORMAN CORP</nameOfIssuer>
       <titleOfClass>CL B</titleOfClass>
       <cusip>115637209</cusip>
       <value>498</value>
       <shrsOrPrnAmt>
           <sshPrnamt>10249</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>10249</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>14149Y108</cusip>
       <value>515</value>
       <shrsOrPrnAmt>
           <sshPrnamt>6611</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>6611</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CARNIVAL CORP</nameOfIssuer>
       <titleOfClass>UNIT 99/99/9999</titleOfClass>
       <cusip>143658300</cusip>
       <value>530</value>
       <shrsOrPrnAmt>
           <sshPrnamt>8090</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>8090</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CORNING INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>219350105</cusip>
       <value>555</value>
       <shrsOrPrnAmt>
           <sshPrnamt>18468</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>18468</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>DIREXION SHS ETF TR</nameOfIssuer>
       <titleOfClass>DLY TECH BULL 3X</titleOfClass>
       <cusip>25459W102</cusip>
       <value>165</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2300</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2300</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ENTERGY CORP NEW</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>29364G103</cusip>
       <value>430</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5605</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5605</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>30231G102</cusip>
       <value>450</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5572</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5572</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>GRAINGER W W INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>384802104</cusip>
       <value>262</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1451</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1451</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>HARTFORD FINL SVCS GROUP INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>416515104</cusip>
       <value>488</value>
       <shrsOrPrnAmt>
           <sshPrnamt>9283</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>9283</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>KOHLS CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>500255104</cusip>
       <value>528</value>
       <shrsOrPrnAmt>
           <sshPrnamt>13645</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>13645</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>KRAFT HEINZ CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>500754106</cusip>
       <value>388</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4526</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4526</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>MACERICH CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>554382101</cusip>
       <value>406</value>
       <shrsOrPrnAmt>
           <sshPrnamt>6997</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>6997</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>NETAPP INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>64110D104</cusip>
       <value>316</value>
       <shrsOrPrnAmt>
           <sshPrnamt>7897</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>7897</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>OCCIDENTAL PETE CORP DEL</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>674599105</cusip>
       <value>553</value>
       <shrsOrPrnAmt>
           <sshPrnamt>9236</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>9236</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>PFIZER INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>717081103</cusip>
       <value>336</value>
       <shrsOrPrnAmt>
           <sshPrnamt>10000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>10000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>PROSHARES TR</nameOfIssuer>
       <titleOfClass>ULT R/EST NEW</titleOfClass>
       <cusip>74347X625</cusip>
       <value>88</value>
       <shrsOrPrnAmt>
           <sshPrnamt>700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>PROSHARES TR</nameOfIssuer>
       <titleOfClass>ULTRA FNCLS NEW</titleOfClass>
       <cusip>74347X633</cusip>
       <value>83</value>
       <shrsOrPrnAmt>
           <sshPrnamt>800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>800</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>QUALCOMM INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>747525103</cusip>
       <value>350</value>
       <shrsOrPrnAmt>
           <sshPrnamt>6343</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>6343</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>QUEST DIAGNOSTICS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>74834L100</cusip>
       <value>564</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5074</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5074</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI HEALTHCARE</titleOfClass>
       <cusip>81369Y209</cusip>
       <value>174</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2200</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI INT-FINL</titleOfClass>
       <cusip>81369Y605</cusip>
       <value>81</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3300</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>3300</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI INT-INDS</titleOfClass>
       <cusip>81369Y704</cusip>
       <value>48</value>
       <shrsOrPrnAmt>
           <sshPrnamt>700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI INT-UTILS</titleOfClass>
       <cusip>81369Y886</cusip>
       <value>78</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SOUTHWEST AIRLS CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>844741108</cusip>
       <value>732</value>
       <shrsOrPrnAmt>
           <sshPrnamt>11779</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>11779</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TARGET CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>87612E106</cusip>
       <value>639</value>
       <shrsOrPrnAmt>
           <sshPrnamt>12215</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>12215</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TRAVELERS COMPANIES INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>89417E109</cusip>
       <value>524</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4140</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4140</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TYSON FOODS INC</nameOfIssuer>
       <titleOfClass>CL A</titleOfClass>
       <cusip>902494103</cusip>
       <value>562</value>
       <shrsOrPrnAmt>
           <sshPrnamt>8967</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>8967</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>UNION PAC CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>907818108</cusip>
       <value>682</value>
       <shrsOrPrnAmt>
           <sshPrnamt>6266</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>6266</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>VALERO ENERGY CORP NEW</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>91913Y100</cusip>
       <value>496</value>
       <shrsOrPrnAmt>
           <sshPrnamt>7355</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>7355</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>XILINX INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>983919101</cusip>
       <value>544</value>
       <shrsOrPrnAmt>
           <sshPrnamt>8452</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>8452</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ALLERGAN PLC</nameOfIssuer>
       <titleOfClass>SHS</titleOfClass>
       <cusip>G0177J108</cusip>
       <value>484</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1990</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1990</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TE CONNECTIVITY LTD</nameOfIssuer>
       <titleOfClass>REG SHS</titleOfClass>
       <cusip>H84989104</cusip>
       <value>515</value>
       <shrsOrPrnAmt>
           <sshPrnamt>6540</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>6540</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>LYONDELLBASELL INDUSTRIES N</nameOfIssuer>
       <titleOfClass>SHS - A -</titleOfClass>
       <cusip>N53745100</cusip>
       <value>414</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4900</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CHINA PETE &amp; CHEM CORP</nameOfIssuer>
       <titleOfClass>SPON ADR H SHS</titleOfClass>
       <cusip>16941R108</cusip>
       <value>350</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4456</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4456</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>NETEASE INC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>64110W102</cusip>
       <value>150</value>
       <shrsOrPrnAmt>
           <sshPrnamt>500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SILICON MOTION TECHNOLOGY CO</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>82706C108</cusip>
       <value>43</value>
       <shrsOrPrnAmt>
           <sshPrnamt>900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>900</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SINOPEC SHANGHAI PETROCHEMIC</nameOfIssuer>
       <titleOfClass>SPON ADR H</titleOfClass>
       <cusip>82935M109</cusip>
       <value>225</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4200</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TAIWAN SEMICONDUCTOR MFG LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>874039100</cusip>
       <value>199</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>DIREXION SHS ETF TR</nameOfIssuer>
       <titleOfClass>DLY RUSSIA BL 3X</titleOfClass>
       <cusip>25490K273</cusip>
       <value>1114</value>
       <shrsOrPrnAmt>
           <sshPrnamt>32500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>32500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ELDORADO GOLD CORP NEW</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>284902103</cusip>
       <value>172</value>
       <shrsOrPrnAmt>
           <sshPrnamt>65000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>65000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ISHARES TR</nameOfIssuer>
       <titleOfClass>MSCI POL CAP ETF</titleOfClass>
       <cusip>46429B606</cusip>
       <value>431</value>
       <shrsOrPrnAmt>
           <sshPrnamt>17750</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>17750</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>MOBILE TELESYSTEMS PJSC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>607409109</cusip>
       <value>358</value>
       <shrsOrPrnAmt>
           <sshPrnamt>42700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>42700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>RYANAIR HLDGS PLC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR NE</titleOfClass>
       <cusip>783513203</cusip>
       <value>172</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1600</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1600</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>LUXOFT HLDG INC</nameOfIssuer>
       <titleOfClass>ORD SHS CL A</titleOfClass>
       <cusip>G57279104</cusip>
       <value>274</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>YANDEX N V</nameOfIssuer>
       <titleOfClass>SHS CLASS A</titleOfClass>
       <cusip>N97284108</cusip>
       <value>248</value>
       <shrsOrPrnAmt>
           <sshPrnamt>9450</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>9450</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ALLIANCE HOLDINGS GP LP</nameOfIssuer>
       <titleOfClass>COM UNITS LP</titleOfClass>
       <cusip>01861G100</cusip>
       <value>967</value>
       <shrsOrPrnAmt>
           <sshPrnamt>40800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>40800</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BRASKEM S A</nameOfIssuer>
       <titleOfClass>SP ADR PFD A</titleOfClass>
       <cusip>105532105</cusip>
       <value>1034</value>
       <shrsOrPrnAmt>
           <sshPrnamt>49900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>49900</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CVR REFNG LP</nameOfIssuer>
       <titleOfClass>COMUNIT REP LT</titleOfClass>
       <cusip>12663P107</cusip>
       <value>1034</value>
       <shrsOrPrnAmt>
           <sshPrnamt>108800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>108800</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CHEVRON CORP NEW</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>166764100</cusip>
       <value>136</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1300</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1300</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CHINA PETE &amp; CHEM CORP</nameOfIssuer>
       <titleOfClass>SPON ADR H SHS</titleOfClass>
       <cusip>16941R108</cusip>
       <value>1038</value>
       <shrsOrPrnAmt>
           <sshPrnamt>13200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>13200</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CINER RES LP</nameOfIssuer>
       <titleOfClass>COM UNIT LTD</titleOfClass>
       <cusip>172464109</cusip>
       <value>646</value>
       <shrsOrPrnAmt>
           <sshPrnamt>23592</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>23592</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>FREEPORT-MCMORAN INC</nameOfIssuer>
       <titleOfClass>CL B</titleOfClass>
       <cusip>35671D857</cusip>
       <value>841</value>
       <shrsOrPrnAmt>
           <sshPrnamt>700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BHP BILLITON LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>088606108</cusip>
       <value>1780</value>
       <shrsOrPrnAmt>
           <sshPrnamt>500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BHP BILLITON LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>088606108</cusip>
       <value>7759</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2180</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2180</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BHP BILLITON LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>088606108</cusip>
       <value>854</value>
       <shrsOrPrnAmt>
           <sshPrnamt>240</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>240</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BHP BILLITON LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>088606108</cusip>
       <value>1459</value>
       <shrsOrPrnAmt>
           <sshPrnamt>410</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>410</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>GOODYEAR TIRE &amp; RUBR CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>382550101</cusip>
       <value>1182</value>
       <shrsOrPrnAmt>
           <sshPrnamt>33800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>33800</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TOTAL S A</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>89151E109</cusip>
       <value>3273</value>
       <shrsOrPrnAmt>
           <sshPrnamt>660</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>660</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>FRANCO NEVADA CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>351858105</cusip>
       <value>1010</value>
       <shrsOrPrnAmt>
           <sshPrnamt>140</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>140</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BP PLC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>055622104</cusip>
       <value>2529</value>
       <shrsOrPrnAmt>
           <sshPrnamt>730</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>730</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>LEAR CORP</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>521865204</cusip>
       <value>1122</value>
       <shrsOrPrnAmt>
           <sshPrnamt>7900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>7900</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>MAGNA INTL INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>559222401</cusip>
       <value>1056</value>
       <shrsOrPrnAmt>
           <sshPrnamt>22800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>22800</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ROYAL DUTCH SHELL PLC</nameOfIssuer>
       <titleOfClass>SPONS ADR A</titleOfClass>
       <cusip>780259206</cusip>
       <value>2128</value>
       <shrsOrPrnAmt>
           <sshPrnamt>400</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>400</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>30231G102</cusip>
       <value>16227</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2010</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2010</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SPDR SERIES TRUST</nameOfIssuer>
       <titleOfClass>S&amp;P OILGAS EXP</titleOfClass>
       <cusip>78464A730</cusip>
       <value>6033</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1890</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1890</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TURQUOISE HILL RES LTD</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>900435108</cusip>
       <value>371</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1400</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1400</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>RAYONIER ADVANCED MATLS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>75508B104</cusip>
       <value>1009</value>
       <shrsOrPrnAmt>
           <sshPrnamt>64200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>64200</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SPDR GOLD TRUST</nameOfIssuer>
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       <cusip>78463V107</cusip>
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   </infoTable>
   <infoTable>
       <nameOfIssuer>PROSHARES TR</nameOfIssuer>
       <titleOfClass>ULT R/EST NEW</titleOfClass>
       <cusip>74347X625</cusip>
       <value>188</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>PROSHARES TR</nameOfIssuer>
       <titleOfClass>ULTRA FNCLS NEW</titleOfClass>
       <cusip>74347X633</cusip>
       <value>208</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>RAYONIER ADVANCED MATLS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>75508B104</cusip>
       <value>1546</value>
       <shrsOrPrnAmt>
           <sshPrnamt>98315</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>98315</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ROCKWELL COLLINS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>774341101</cusip>
       <value>665</value>
       <shrsOrPrnAmt>
           <sshPrnamt>6332</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>6332</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>S&amp;P GLOBAL INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>78409V104</cusip>
       <value>2709</value>
       <shrsOrPrnAmt>
           <sshPrnamt>18558</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>18558</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SEALED AIR CORP NEW</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>81211K100</cusip>
       <value>1331</value>
       <shrsOrPrnAmt>
           <sshPrnamt>29726</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>29726</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI HEALTHCARE</titleOfClass>
       <cusip>81369Y209</cusip>
       <value>412</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5200</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI CONS STPLS</titleOfClass>
       <cusip>81369Y308</cusip>
       <value>192</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>3500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI INT-FINL</titleOfClass>
       <cusip>81369Y605</cusip>
       <value>195</value>
       <shrsOrPrnAmt>
           <sshPrnamt>7900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>7900</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI INT-INDS</titleOfClass>
       <cusip>81369Y704</cusip>
       <value>109</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1600</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1600</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
       <titleOfClass>SBI INT-UTILS</titleOfClass>
       <cusip>81369Y886</cusip>
       <value>197</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>3800</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SELECT COMFORT CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>81616X103</cusip>
       <value>1726</value>
       <shrsOrPrnAmt>
           <sshPrnamt>48633</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>48633</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SUPERNUS PHARMACEUTICALS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>868459108</cusip>
       <value>1914</value>
       <shrsOrPrnAmt>
           <sshPrnamt>44409</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>44409</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>TAUBMAN CTRS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>876664103</cusip>
       <value>1146</value>
       <shrsOrPrnAmt>
           <sshPrnamt>19240</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>19240</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>USCF ETF TR</nameOfIssuer>
       <titleOfClass>RESTAURNT LDRS</titleOfClass>
       <cusip>90290T205</cusip>
       <value>43</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2400</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2400</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ALLEGION PUB LTD CO</nameOfIssuer>
       <titleOfClass>ORD SHS</titleOfClass>
       <cusip>G0176J109</cusip>
       <value>1278</value>
       <shrsOrPrnAmt>
           <sshPrnamt>15752</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>15752</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>COMSTOCK MNG INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>205750102</cusip>
       <value>487</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2665000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2665000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>GOLD STD VENTURES CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>380738104</cusip>
       <value>2052</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1200000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1200000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>MAG SILVER CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>55903Q104</cusip>
       <value>652</value>
       <shrsOrPrnAmt>
           <sshPrnamt>50000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>50000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>PRETIUM RES INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>74139C102</cusip>
       <value>961</value>
       <shrsOrPrnAmt>
           <sshPrnamt>100000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>100000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>KINROSS GOLD CORP</nameOfIssuer>
       <titleOfClass>COM NO PAR</titleOfClass>
       <cusip>496902404</cusip>
       <value>0</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>KLONDEX MNS LTD</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>498696103</cusip>
       <value>15837</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5000000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>KLONDEX MNS LTD</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>498696103</cusip>
       <value>19322</value>
       <shrsOrPrnAmt>
           <sshPrnamt>6100000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SEABRIDGE GOLD INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>811916105</cusip>
       <value>519</value>
       <shrsOrPrnAmt>
           <sshPrnamt>45000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ALIO GOLD INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>01627X108</cusip>
       <value>832</value>
       <shrsOrPrnAmt>
           <sshPrnamt>200000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ALASKA AIR GROUP INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>011659109</cusip>
       <value>4612</value>
       <shrsOrPrnAmt>
           <sshPrnamt>54112</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>54112</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ALLEGIANT TRAVEL CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>01748X102</cusip>
       <value>4500</value>
       <shrsOrPrnAmt>
           <sshPrnamt>34840</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>34840</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>AMERICAN AIRLS GROUP INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>02376R102</cusip>
       <value>14992</value>
       <shrsOrPrnAmt>
           <sshPrnamt>297231</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>297231</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>AT&amp;T INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>00206R102</cusip>
       <value>117</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>3000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BOEING CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>097023105</cusip>
       <value>4402</value>
       <shrsOrPrnAmt>
           <sshPrnamt>18154</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>18154</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CHINA EASTN AIRLS LTD</nameOfIssuer>
       <titleOfClass>SPON ADR CL H</titleOfClass>
       <cusip>16937R104</cusip>
       <value>1116</value>
       <shrsOrPrnAmt>
           <sshPrnamt>40353</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>40353</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>DELTA AIR LIINES INC DEL</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>247361702</cusip>
       <value>13459</value>
       <shrsOrPrnAmt>
           <sshPrnamt>272673</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>272673</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>GENERAL DYNAMICS CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>369550108</cusip>
       <value>3542</value>
       <shrsOrPrnAmt>
           <sshPrnamt>18040</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>18040</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>GOLD FIELDS LTD NEW</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>38059T106</cusip>
       <value>104</value>
       <shrsOrPrnAmt>
           <sshPrnamt>26148</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>26148</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>HAWAIIAN HOLDINGS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>419879101</cusip>
       <value>4250</value>
       <shrsOrPrnAmt>
           <sshPrnamt>102789</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>102789</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>JETBLUE AIRWAYS CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>477143101</cusip>
       <value>4613</value>
       <shrsOrPrnAmt>
           <sshPrnamt>210456</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>210456</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>KINROSS GOLD COER</nameOfIssuer>
       <titleOfClass>COM NO PAR</titleOfClass>
       <cusip>496902404</cusip>
       <value>69</value>
       <shrsOrPrnAmt>
           <sshPrnamt>16700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>16700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>NUVEEN CR STRATEGIES INCM FD</nameOfIssuer>
       <titleOfClass>COM SHS</titleOfClass>
       <cusip>67073D102</cusip>
       <value>48</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5500</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>NUVEEN PFD INCOME OPPRTNY FD</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>67073B106</cusip>
       <value>57</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5375</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5375</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>PIONEER FLOATING RATE TR</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>72369J102</cusip>
       <value>97</value>
       <shrsOrPrnAmt>
           <sshPrnamt>8083</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>8083</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
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</SEC-DOCUMENT>
