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March 26, 2014 at 9:53 am
#2186
Steven Place
Keymaster
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.