TRADE CLOSE AND RESET
SPDR Energy ETF (XLE): 83.49

 XLE has been moving around too much for our “core” trade to keep up. Rather than fight the whip saws let’s take advantage of that by selling an iron condor. This will bring in good credit while allowing more movement than a calendar typically does. 

TRADE ACTION 1: Close the existing trade for a credit of around 1.25 – 1.35
STC 14 JUL 80 call
BTC 18 AUG 80 call

The Master Portfolio is trading 7 contracts

TRADE ACTION 2: Open an iron condor for a credit of around 1.55 – 1.61

STO 11 AUG 86 call
BTO 11 AUG 91 call
STO 11 AUG 81 put
BTO 11 AUG 76 put

The Master Portfolio is trading 10 contracts