SLV / GLD one day put trade

UPDATE:

Now that the market is closed I can see were I stand on this trade. SLV must drop 2% and GLD must drop 0.75% to break even. Any drop greater than 2% and 0.75% is profit.
 
UPDATE:

Closed the SLV put @ $0.14
Unfilled Limit order on the GLD put to sell @ $0.02.
Loss about $66.00

Closing at 10:00am EST would have produced a small profit, about $20.00.
 
UPDATE:

Now that the market is closed and options expired I can look back on this trade.
  • I'm still bearish on silver, back to below $20.00.
  • Buying the GLD 146.00 call / 145.00 put option strangle would have cost about $0.81, sold for about $1.50.
  • Might consider a one day strangle on GLD next time, just before expiration.
 
UPDATE

Quote from ForexForex:
  • Might consider a one day strangle on GLD next time, just before expiration.
More...
I will keep you posted on this trade. GLD has weekly options and I'm considering a strangle on Wednesday or Thursday with the May 27 options. Should cost about $0.80, strikes will depend on what GLD is trading at on Wednesday or Thursday.
 
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