The SPDR Energy ETF (XLE) has pulled back over the last 2 days. Let’s roll our 23 Sep short call out two weeks and down to adjust the trade. This will require an additional $200 per contract of margin (option buying power).
SPDR Energy ETF (XLE): 76.85
TRADE ACTION: Roll the XLE 23 Sep 82 call to the 7 Oct 80 call for a net credit of around 1.25
BTC the XLE 23 Sep 82 call
STO the XLE 7 Oct 80 call
The 50K Portfolio is trading 5 contracts.