Sold for 80c for 220% profit
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GLD slipped in the last few days. I won't buy any puts in here for weekly nor I am expecting a big bounce. With slightly higher vol one thing that comes to my mind is a butterfly to pin 160 with high open int at 160 strikes.
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| GLD high open int for $160 strikes |
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| GLD daily |
SPDR Gold Trust ETF (GLD) Butterfly:
Buy 1X $159 Dec call
Sell 2X $160 Dec call
Buy 1X $161 Dec call
(Paid 25c)
*Please do your own research before buying any stock listed here. Disclaimer.
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