Small Account Trader PRO Alert: Close GLD

Close Trade
Gold Trust ETF (GLD): 188.07

GLD has bounced around and briefly violated our upper call butterfly but has pulled back. With expiration approaching Friday we some profits so let’s take them and get out for a win while we can. 
Remember we have 2 butterfly trades. We suggest closing each one as a separate butterfly as you will probably receive better prices than trying to close it as a block trade with 6 legs. 
Trade 1: Sell/STC the put spread
STC 5 of the GLD 12-MAY 170 puts
BTC 10 of the GLD 12-MAY 180 puts
STC 5 of the GLD 12-MAY 181 puts
Debit of around 0.00 – 0.10
Trade 2: Sell/STC the call spread
STC 5 of the GLD 12-MAY 185 calls
BTC 10 of the GLD 12-MAY 186 calls
STC 5 of the GLD 12-MAY 196 calls 
Debit of around 1.68 – 1.75
This results in about a $220 profit for the entire position.