Opening (IRA): GLD September 17th 150/July 16th 166 LCV*

Atualizado
Comments: Pre-market, this is showing bid 13.89/mid 14.05/ask 14.21. Going long call vertical on gold weakness here (and taking a little advantage of call side skew), buying the back month 90 and selling the front month at-the-money. A sixteen-wide for which I'll be paying no worse (at least currently) 14.21, so a max profit potential of the width of the diagonal minus what I paid or 1.79 with an ROC at max of 12.6%.

I'll have several opportunities to roll out the short call for additional cost basis reduction in the event that this weakness isn't over.

* -- Long call vertical.
Nota
Had to penny up a couple of times -- the back month 150 isn't very liquid. Filled for 14.24, so break even is 150 + 14.24 or 164.24 with a max profit metric of 16 - 14.24 = 1.76. 1.76/14.24 = 12.4% ROC at max.
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