GLD Trade for Hadik

Hadik's weekly update about gold states:

"They have begun to rebound but need to produce
daily closes above 1345.5/GCM & 16.62/SIK to show
any signs of new strength and remove remaining
downside risk. More importantly, Gold needs to give a
weekly close above 1334.2/GCM to re-enter its weekly
uptrend and project new highs.

I know it may feel like we missed a chunk of the GLD trade.  We needed to be cautious since Hadik had made several warnings, and now that Hadik has given us clear lines in the sand to rise into May, we can be confident in the GLD trade we put on very soon.   

If we are seriously looking at a precipitous rise into May, I will design something with an excellent R/R that will take advantage.  Right now, I'm looking at a GLD 140 Apr/May call calendar.  I know most think of IV as declining when a stock is going up, but if you look at its history, GLD acts the opposite.  I will put this on towards the end of the day if it looks like these closing levels will be breached.