Double Calendar on Gold looking for a volatility spike.

After 80 plus days in a sideways move consolidating, we are right at a point where Gold can start to move. With volatility at the lows, a good strategy would be to buy a double calendar to take advantage of any strong move that will make volatility expand. I will be buying the Dec 1365 Call and 1295 Put, and Selling the Nov 1365 Call and 1295 Put.

Trade active:

We got our move on Gold and our long positions are doing well. However I rolled the call side of the Shorter term down changing this trade into a straddle strangle swap.

Trade closed manually:

After watching gold moving down so fast, I decided to close the trade for a small loss, the move to a straddle helped us giving us an additional $600 and we where winning on the long Strangle, however the loss of the short put was bigger and overall we ended up with a loss of about $150.