Small Account Trader PRO Alert: Close 24 Mar XBI Ladder

Our 24 Mar XBI laddered position has crossed the 50% of max profit threshold. With the market down and the Fed looking to speed up rate hikes, let’s take our profits now. We entered this trade with a 1.41 credit and can exit with a 0.65 to 0.67 debit … 53% of max profit. Let’s close this trade now.

 

TRADE CLOSE

 

SPDR S&P Biotech ETF (XBI):  82.83

 

ACTION: CLOSE the XBI 24 Mar 73/ 78 put and the 24 Mar 91 / 96 call for a net debit of around 0.65 to 0.67

STC the XBI 24 Mar 73 put

BTC the XBI 24 Mar 78 put

BTC the XBI 24 Mar 91 call

STC the XBI 24 Mar 96 call

 

Master Portfolio:  5 contracts. 

 

We will look at opening a new XBI laddered rung later this week.