Double Calendar on Gold looking for a volatility spike.
Updated
After 80 plus days in a sideways move consolidating, we are right at a point where Gold can start to move. With volatility at the lows, a good strategy would be to buy a double calendar to take advantage of any strong move that will make volatility expand. I will be buying the Dec 1365 Call and 1295 Put, and Selling the Nov 1365 Call and 1295 Put.
Trade active
We got our move on Gold and our long positions are doing well. However I rolled the call side of the Shorter term down changing this trade into a straddle strangle swap.Trade closed manually
After watching gold moving down so fast, I decided to close the trade for a small loss, the move to a straddle helped us giving us an additional $600 and we where winning on the long Strangle, however the loss of the short put was bigger and overall we ended up with a loss of about $150.
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