Small Account Trader PRO Alert: XBI 2 Jun Trade Adjustment

Even with a pull back in the price last week, the XBI continues to trade higher. We will adjust our 2 Jun iron condor leg by rolling the put side up and converting the trade to a butterfly. We will only pick up a small net credit of around 0.25 to 0.28 today but it puts us in the position to manage the trade again before the expiry date if we don’t get a retracement in the XBI price.




SPDR S&P Biotech ETF (XBI):  88.80


TRADE 1:  CLOSE the XBI 2 Jun XBI put spread for a net debit of around 0.01 to 0.02

BTC the XBI 2 Jun 74 put

STC the XBI 2 Jun 69 put


TRADE 2:  OPEN the XBI 2 Jun XBI new vertical put spread for a net credit of around 0.27 to 0.30

STO the XBI 2 Jun 84 put

BTO the XBI 2 Jun 79 put


Master Portfolio:  5 contracts