Close GLD Puts for a 30% Gain

We mentioned several times that if we saw gold make a major move down we would exit our short put position, and we saw it today with spot gold down $38 on the first day of the government shutdown.  This is a major sign of weakness since instability in the government should signal a rise in gold.  Rumors are that today's selloff is due to one large holder liquidating their position, but we're not going to keep this trade on and risk additional declines if gold continues this trend.  We bought back the October $114 Puts on GLD for $0.41 cents for a net profit of 30%.