Posted on December 31, 2020
As we head to the close of trade, our WPM/GLD straddle pairing, expiring tonight, needs help.
To begin, the long WPM 43 straddle is worth $1.01.
And we say sell it.
Our short GLD 177 straddle is worth $0.90. Buy it back as close to 177 (or as close to the close of trade as you can).
We’re booking it now at $0.90.
With a debit of $1.03 already in hand, we’re now facing a loss of $0.94 on the trade.
And looking forward to the New Year to gather up a whirlwind of winnings in its place.
Alan B. Harvard