Time to re-enter the ETF (XLF) broken wing butterfly trade. Since the summer, we have closed 11 out of 13 of these trades for a profit. With the Fed committed to additional rate increases for now, financial institutions will continue to benefit. We will set our DTE at around 30 days to give this trade more time.
NEW TRADE: Broken Wing Butterfly
SPDR S&P Financial ETF (XLF): 36.86
TRADE ACTION: OPEN the XLF 10 Mar 36.50 / 31.5 put and the XLF 10 Mar 36.50 call / 37.50 call for a net credit of around 1.05 to 1.10
BTO the XLF 10 Mar 31.50 put
STO the XLF 10 Mar 36.50 put
STO the XLF 10 Mar 36.50 call
BTO the XLF 10 Mar 37.50 call
The Master Portfolio is trading 5 contracts.