I decided to close out the NOB spread when the opportunity came to scratch it. I won’t be so fast to put this trade on again given that I have scratched two of these spreads consecutively. I see some other opportunities on the horizon and this trade was taking up a lot of buying power. Given the low market volatility and beaten down precious metals prices, my next trades are likely to be directional long bets on gold and silver Speculations.
Bought /ZB Mar 157′ 28 and sold 2 x /ZN Mar 128′ 315 for $0 profit.