I unwind one leg of my SPY Vertical, sell SPY Feb 118 put for a 95% loss on this leg of the trade. I am still short the Feb 112 puts and Mar 105 puts, so I am now net long SPY. This was a disaster trade as I bet that SPY would go down and it rallied strongly. I limited the damage by selling Jan SPY puts which have already expired.
Long GDX, GLD, TBT, SPY
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