TRADE ALERT: Close KRE Butterfly
As we’ve pointed out in our live trading sessions, the bank crisis is not over. The “bank walk” continues as First Republic’s stock shares drop 30% today on fleeing deposits. Our bearish KRE short butterfly has reached full profit on this news. We collected 0.68 of net credit when we opened the position and can exit for a net credit of around 0.10 and a $365 profit for our trade.
Let’s close the position and we will open a new bearish KRE trade this week.
TRADE CLOSE
SPDR S&P Regional Bank ETF (KRE): 41.73
TRADE: CLOSE the KRE bearish butterfly for a net credit of around 0.10
STC (5) KRE 28 Apr 42 call
BTC (10) KRE 28 Apr 43 call
STC (5) KRE 28 Apr 48 call
Master Portfolio: 5 / 10 / 5 contracts.