Small Account Trader PRO Alert: Close XBI 10 Feb Iron Condor

Our twice adjusted XBI 10 Feb laddered iron condor is now in a solid profit range. The XBI moved against us to the upside and we managed it twice by adjusting the puts from an iron condor into a butterfly. After the initial trade and 2 adjustments, we have a 2.78 of credit. Let’s not be greedy. We can close it today for a net debit of around 2.38 to 2.42 resulting in a 0.38 to 0.40 credit and a 10% net profit.

 

TRADE CLOSE:  2/10/23 Laddered Iron Condor

 

SPDR S&P Biotech ETF (XBI):  89.05

 

TRADE ACTION: CLOSE the XBI 10 Feb 85 / 90 put and the XBI 10 Feb 90 / 95 call for a net debit of around 2.38 to 2.42

STC the XBI 10 Feb 85 put

BTC the XBI 10 Feb 90 put

BTC the XBI 10 Feb 90 call

STC the XBI 10 Feb 95 call

 

The Master Portfolio is trading 5 contracts.