Ante up on my Gold prediction -- GLD dropping to 104

I have been predicting that Gold (GLD) will continue dropping until it hits resistance at 104. This morning I put some money down on that bet (actually got some money, for at least a while) by creating a bear spread.   Sold Jan 104 calls at 4.91 and sold Jan 112 calls at 1 for a net credit of 3.91.  GLD was at around 107.95 at the time, so I got almost $1 in time value on the 104 call.  Something I wouldn't have got if I had simply sold short and bought the 112 calls to limit my exposure.  Of course I gave up any advantage of GLD dropping below 104 in order to get that premium.

Click to enlarge the chart