UPDATE: Bull call spread on gold
As described in the original post, this is a 10 point-wide spread, $1340-$1350/oz.
The maximum profit is limited to the spread-net debit or (10-5.70) 4.30 per contract.
With gold rallying above the short strike of $1350/oz, we now need to let the clock run and benefit from the time decay.
There's 23 days to go before expiration and we just need the underlying future to remian above 1350. As a reminder, we want to capture at least 80% of the maximum gain or $3.44 (4.70 x 80%) per contract.
— Edited by Adam Courtenay
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