Time to roll our XBI 21 Oct calls for our hedge synthetic covered call position short call. We can roll it out 2 weeks strike-to-strike and collect around 1.50. We entered the trade paying a $2.18 debit and with our last 2 rolls we were back to a no-cost trade. With today’s roll we can add more cash to our position.
SPDR S&P Biotech ETF (XBI): 77.25
TRADE ACTION: ROLL the XBI 21 Oct 81 call to the 4 Nov 81 call for a net credit of around 1.50
BTC the XBI 21 Oct 81 call
STO the XBI 4 Nov 81 call
The 50K Portfolio is trading 5 contracts.