/GC (Gold Futures) Broken Wing Butterfly: 1/6/2015 – Update 1

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Opening setup/trade (Jan 6, 2015)

Bought back the embedded short PUT vertical (-1190/+1185) for 0.30.
BOT +1 VERTICAL /GCJ5 1/100 MAR 15 /OGH5 1190/1185 PUT @.30
Order

The remaining regular butterfly (1210/1200/1190) is now a risk free setup.
P&L diagram
Max. profit at expiration would occur at the short strike (1200).  GC is trading around 1294, but there are still 31  day left to expiration.  As such there is time to decide on when to close the trade.