We are looking to close out the following credit spreads on GDX and GLD as gold prices have broke above prior resistance of $1300 and closed above that psychological number.

The action leads us to the following trade closes today. ( see below )

Portfolio #1:ALERT: CLOSING GDX February 23.5/25 call spread.

We are looking to close out the GDX February call spread for a NET DEBIT of $1.34 - $1.38

The BID/ASK is $1.29- $1.43 as of this email.

As usual we always look to split the BID/ASK, so try and work the BID/ASK spread

Never the less, we will be closing this spread Today, before the close.

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Portfolio #2: ALERT closing GLD February 123/125 call spread.

We are looking to close out the GLD February 123/125 call spread for a NET DEBIT of $1.62 - $1.85

The BID/ASK is $1.66 - $1.91.

As usual we always look to split the BID/ASK, so try and work the BID/ASK spread

Never the less, we will be closing this spread Today, before the close.