Selling Puts in Gold to take advantage of a possible pullback
Updated
Gold looks like is losing momentum from the big move down. Its flirting to break the 20EMA on 4hr and we are over extended on the daily. Looking to take advantage of a correction I will be adding to my other positions by selling the 1230 PUT for $1,100.
As long as the price continue to be above 1230 by November 23rd we keep the full Credit.
Break even @ 1219.2
Probability of profit 74.5%
As long as the price continue to be above 1230 by November 23rd we keep the full Credit.
Break even @ 1219.2
Probability of profit 74.5%
Trade closed: target reached
Closed trade for a profit of $920
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