Jade Lizard in Dec Gold Options – Trade Idea

GCZ9 1580 Call-GCZ9 1560 Calls-GCZ9 1520 Puts 83.4 days to expiry, 33.5 delta

This structure (Jade Lizard) looks pretty cheap in Gold Options currently, and might be a good fit for your Options portfolio if you expect the breakeven on this at 1484/1500 to hold over the next 83.4 days.

Variations to consider, and check in the system. Adjust the strangle distances to increase the return and match your view, or move your Call strike to adjust your upside tail payout.

Alternatively you can look to sell the Straddle and buy a Call (Big Lizard).

Bearish(someone must be!), check selling Straddles or Strangles to buy Puts.