Todd Gordon's SPDR Gold Trust ETF Trade

On CNBC's Trading Nation, Todd Gordon of TradingAnalysis.com suggested an iron condor trading strategy in SPDR Gold Trust (ETF) GLD.

Gordon said that gold has been struggling lately because off the rising interest rates, but he noticed that it's trading close to its technical support and he thinks it might be range bound in the near-term future. To exploit the sideways trading, Gordon wants to sell the January 109 call, buy the January 110 call, sell the January 106 put and buy the January 105 put for a total premium of $0.52, which is his maximal gain for the trade.

The trade breaks even at $109.52 and $105.48 and his maximal loss is $0.48.