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Closing the GDXJ Iron Fly for a Profit of $1,370

GDXJ’s price bounced around some without taking off in one direction, volatility came in and time went by making this trade a winner. I am taking off the GDXJ iron fly for a profit of $1,370 per 10 lot. My target profit for a straddle or iron fly is approximately 25 percent of the initial credit received so this trade worked to plan. It served its purpose and was a useful hedge to my otherwise long precious metals portfolio.

GDXJ Sep 56P-60P-60C+75C for a debit of $4.10.

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