Selling a Gold Futures Put Spread

The price of gold has tumbled during the past couple of days so I am selling a put spread in the May gold futures.

  • Sold /GCM1 OGM1 05/25/21 Put 1660.00 @ 27.3
    Filled at: Mar 30, 2021 7:36:40 AM EDT
  • Bought /GCM1 OGM1 05/25/21 Put 1655.00 @ 25.6
    Filled at: Mar 30, 2021 7:36:40 AM EDT

I collected a credit of 1.70 meaning that the maximum loss for this trade is $330 per contract which is the difference of the strike prices of the spread (5.00) minus the credit received. An increase in the price of gold, a decrease in volatility or the price remaining stagnant as time pasts should make this trade a winner.

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