Unfortunately GLD hovered around the 133 -134 resistance for a couple weeks, causing me to stay in the position hoping for a bounce, but eventually having to cover late during expiration week. I had to cover for big losses causing this month to be down pretty big. The SPY trade expired successfully.
Jan 2011 GLD 134/133 Bull Put Spread for a ROI of - 86% for ~ - $3,310.
Jan 2011 SPY 123/122 Bull Put Spread for a ROI of 11% for + $985.
This left my account down ~14% for the month of January.
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