Posted on October 27, 2020
On October 15th we opened a ‘dueling straddle’ trade on WPM/GLD.
And for the umpteenth time this year, it paid off.
The letter was called More Trades Closing & BIG Precious Metals Winnings and it asked you to sell the GLD October 30th 178.50 straddle for $4.86 and buy the WPM November 6th 50.50/51.00 strangle for $5.04. Total debit on the affair was $0.18.
The GLD straddle can be repurchased for $2.34 (1.20/1.14) and the WPM strangle can be sold for $4.09 (0.59/3.50).
Do it, and you walk with $1.57 on $0.18 spent.
And that’s a fantastic 872% in just TWELVE DAYS!
The G-d of Heaven and Earth has been kind.
Let Him continue ever to be so.
Alan B. Harvard