Our XME broken wing butterfly expires this Friday (10/21). We entered the trade for a credit of 1.30. The XME is retracing down along with the market so let’s take the profits and close the trade. We can close it for a net debit of around 0.85 for around 0.45 profit … $225 of income for our 5 contracts.
SPDR Metals Mining ETF (XME): 45.64
TRADE ACTION: CLOSE the XME 21 Oct 40 / 45.5 put and 49.50 / 50 call for a net debit of around 0.85 to 0.90
STC the XME 21 Oct 40 put
BTC the XME 21 Oct 45.50 put
BTC the XME 21 Oct 49.50 call
STC the XME 21 Oct 50 call
The 50K portfolio is trading 5 contracts.