BOUGHT TO CLOSE GLD JUNE 17TH 112/115 SHORT PUT VERTICAL

This is part of a core GLD position I'm working ... . Originally put on for a 82/contract credit, I covered it today for a $20 debit, yielding a net profit of 62/contract.

I considered merely rolling the spread up to approximately the 75% probability out-of-the-money strike (for the short put), but I decided to close it out instead, lock in the profit, and then open up a new spread in the same expiration (June 17th 113/116, filled for a 29/contract credit).

Having taken off most of the core position over time, I'm now only left with a June 17th 113/116/117/120 iron condor. Naturally, I'll have to deal with rolling the 117/120 short call vertical at some point ... . I've also turned my attention to higher volatility gold plays, like GDX, so I probably won't be adding much to my GLD position except to work off the "troubled" short call side, unless the volatility in it pops hugely, making it worthwhile again ... .
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