Our SPDR Financial ETF (XLF) broken wing butterfly trade is at about 50% of max profit. We entered this trade with a 0.70 credit and can exit at around 0.34 to 0.35 of net profit. With the XLF price starting to run on today’s market reversal, let’s take our profits now.

TRADE CLOSE

SPDR Financial ETF (XLF): 31.27

TRADE ACTION: CLOSE the XLF 21 Oct 32 / 32.50 call and 21 Oct 30 / 25 put for a net debit of around 0.35 to 0.38 

STC the XLF 21 Oct 25 put

BTC the XLF 21 Oct 30 put

BTC the XLF 21 Oct 32 call

STC the XLF 21 Oct 32.50 call

The 50K Portfolio is trading 5 contracts.