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

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.

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2 thoughts on “/GC (Gold Futures) Broken Wing Butterfly: 1/6/2015 – Update 1

  1. Pingback: /GC (Gold Futures) Broken Wing Butterfly: 1/6/2015 & /CL (Light Sweet Crude Oil Futures) Iron Condor: 2/2/2015 Closing Trades + New /CL (Light Sweet Crude Oil Futures) Short Strangle: 2/24/2015 | Gen ROC

  2. Pingback: /CL (Light Sweet Crude Oil Futures) Short Strangle: 2/24/2015 Closing Trade + New /CL (Light Sweet Crude Oil Futures) Short Strangle: 3/5/2015 | Gen ROC

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