GLD stock price is rallying higher again today ahead of expectations and hitting the “full profit” limit on our broken wing butterfly. If the GLD price remains flat or trades higher there is not enough credit to collect even if we stay in the position closer to the 18 Nov expiry date.

Let’s close it today for a small loss. We entered the trade for a 1.10 credit. We gave back -1.80 on our second adjustment and picked up 1.07 on our new setting leaving us with a net credit of 0.37. We can close the trade today for a net debit of around -0.61 leaving us with a -0.24 debit that we will track. We will open a new GLD position later this week.

TRADE CLOSE: Broken Wing Butterfly

SPDR Gold Trust ETF (GLD):  159.77

TRADE ACTION:  CLOSE the GLD 18 Nov 148 / 153 put and 18 Nov 153 / 153.50 call for a net of around 0.60 to 0.63

STC the GLD 18 Nov 148 put

BTC the GLD 18 Nov 153 put

BTC the GLD 18 Nov 153 call

STC the GILD 18 Nov 153.50 call

The Master Portfolio is trading 5 contracts.