After recently learning about Calendar spreads I was excited at the chance to try another one. Mojo has found a nice channel on GDX. The purple lines show the edges of the channel and the dotted red line show the median between them.
Unlike Mojo I sold the Feb/Jun Put 47s for a debit of $2.90. As Mojo states in his blog we will most likely roll this one early. I chose the puts because although Gold is on the rise, the mining of gold is on the fall.
Our stop loss on calendars is set at 50%
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