Trade Adjustment (GLD) – March 24th, 2020

Gold ETF (GLD) Trade Adjustment

After the March $150 Calls expired worthless on our Call Diagonal, we suggest turning the remaining June $142 Call into another diagonal by selling a March $152 Call @ $1.12. This would reduce the total risk of the trade to just $5.94 per contract, less than 4% of the underlying ETF price. GLD has already moved higher after our trade and may have limited gains this week. We will continue to sell calls against our June calls if GLD ends the week below $152. 

Adjusting Trade

• GLD – 82% Unrealized Gain: Sell to Open March 27 $152 Call @ $1.12

Upcoming Event:

Market Outlook with Tony Zhang & Michael Khouw @ Thursday March 26th 4:15 PM EST – Submit Your Questions

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