Time to manage several positions today including closing a repaired XBI iron condor trade for a small profit.

Apple announces earnings on 8/3. Let’s roll our short call out one more week to collect a solid premium and we’ll look to close the position for a profit after that.

TRADE ROLL

Apple Inc. (AAPL):  193.15

TRADE:  ROLL the AAPL 21 Jul 192.50 to the 28 Jul 192.50 for a net credit of around 1.25 to 1.28.

BTC the AAPL 21 Jul 192.50

STO the AAPL 28 Jul 192.50

Master Portfolio:  5 contracts

TRADE CLOSE

SPDR S&P Biotech ETF (XBI):  86.31

This is a trade a laddered iron condor trade that we opened back in early April with a May 12 expiration that we have adjusted at least 3 times. We have 0.96 of credit in this trade and we can close it now for 0.83 or lower (about $0.13 or $13 per contract) after being deep in the hole on several occasions. Let’s close it and re-allocate the capital.

TRADE:  CLOSE the XBI 28 Jul iron condor for a net debit of around 0.83 or lower.

STC the XBI 28 Jul 80 put

BTC the XBI 28 Jul 85 put

BTC the XBI 28 Jul 94 call

STC the XBI 28 Jul 99 call

Master Portfolio:  5 contracts