Our XBI 6 Apr iron condor is profitable.  We entered this trade with a 1.31 credit and adjusted it to an iron butterfly adding another 1.14 of credit giving us a total of 2.25. We can close the position today for 1.58 debit and a 0.67 profit or $3.35 of net profit.

Managing this trade early allowed us to ride out the downdraft in the XBI price until it settled and then close at a profit.

TRADE CLOSE

SPDR S&P Biotech ETF (XBI):  75.41

TRADE ACTION:  CLOSE the XBI 6 Apr 75 / 70 put and 6 Apr 80 / 75 call iron butterfly for a net debit of around 1.55 to 1.60 (1.58)

STC the XBI 6 Apr 70 put

BTC the XBI 6 Apr 75 put

BTC the XBI 6 Apr 75 call

STC the XBI 6 Apr 80 call

Work the trade. You can close it as one block trade or close the puts and call as two separate orders.

Master Portfolio: 5 contracts