Buy GLD May/Jun 147 calendar call spread
GLD @141.7 new all time highs today.
GLD breaks out from a base. My target is 147, which would correspond to $1500 for physical spot. Profit range on the calendar spread is 4 points around 147, or 143 to 151. So it bullish, but only mildly bullish. Time is a factor too, May expiration would be the best time to land on 147. Decay eats away if GLD stagnates here.
A calendar spread consists of buying the out month, and selling the earlier month.
Buy GLD Jun 147 calls
Sell GLD May 147 calls
Long EEM, GDX, GLD, IWM, SPY, TBT/TLT
TBT/TLT = short strangle on TLT
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