Reply To: Tiered Income Trade in GLD Home › Forums › Income Trades › Tiered Income Trade in GLD › Reply To: Tiered Income Trade in GLD March 26, 2014 at 9:53 am #2186 Steven PlaceKeymaster GLD has come to our first adjustment point at 163, so we will add another round of butterflies. Buy to open May 119/125/131 Put Butterfly at 2.00 or lower This turns the trade into a goofy looking iron condor structure. If GLD sells off to 122.50 we will add a third round.
