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GLD at 171.05
I’m looking for a move towards 175 with 178 being the next level of resistance.
I’m going to pick up a 5 point wide call spread with 64 days until expiration.
My risk is debit paid for this spread
Risk: $2.10
Reward: $2.90
POP: 45%
Chart:
Risk Profile:
Order Ticket:
GLD at 174.96
We’re selling an ATM call spread to reduce the risk in this trade. We’re long 170/175 call spread and we’re selling 175/179 call spread. This will make it a 5×4 call butterfly with only about 0.50 of risk or $50 per 1 butterfly.
Risk Profile:
Order Ticket:
GLD at 175.01
I’m going to take this trade off and wait for another set up
Closing Order Ticket:
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