Seeing some pretty large divergences in gold at the levels they are at now. Whatever confirmations of trend you may use, if you see it things turning to downside I wouldn't be surprised if we saw a move to 1550 - 1600. Market is crazy right now so all be safe in your trades. Sell some call spreads vs selling underlyings.
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Back to recent highs this week, doesn't change anything for me yet. I am in this myself, sold a 30 delta call spread the day I posted the idea.
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Nothing yet here to even cause me to hedge the position. Still have the short call spread with the short strike at 1790
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Interesting level here at 1790. What happens here will determine what I do between leave the position as is or place a hedge
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Sold a put spread with twice the width of the original call spread. Now have zero risk and profit potential on an unlimited upside move and break even to downside at 1777
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Pulled off the hedge short put spread on Tuesday for some profit and taking off some of the risk of the short call spread. Back to having just the short call spread and waiting to see if another hedge of a short put spread will be needed.