Time to take more profits from our XBI laddered iron condor. We entered our 4 Aug XBI position with a 1.60 of credit and today we can exit the trade for a net debit of around 0.50 to 0.55 … $105 to $110 of profit per contract. Let’s close the trade.
SPDR S&P Biotech ETF (XBI): 85.05
ACTION: CLOSE the XBI 4 Aug laddered iron condor rung for a net debit of around 0.50 to 0.55.
BTC the XBI 4 Aug 90 call
STC the XBI 4 Aug 95 call
STC the XBI 4 Aug 75 put
BTC the XBI 4 Aug 80 put
Master Portfolio: 5 contracts