Small Account Trader PRO Alert: XBI Laddered IC adjustment Apr 28

S&P Biotech ETF (XBI):  81.82

With XBI trading up over 4% today, XBI has had two days of higher trading.  We’re in the money now and we’re going to roll our puts up to add credit.  This will give us an additional credit of around 0.74 to our initial 1.36 credit to give us over 2.00.  

We’re going to convert our laddered iron condor rung to an iron fly.  We will manage this trade before Friday with the goal of getting out at break-even to a small profit. 

Trade Action: Close the put spread for a debit if around 0.04

BTC the XBI 28 APR 70 put
STC the XBI 28 APR 65 put

Trade Action 2: Open a new put spread for a credit of around 0.78

STO the XBI 28 APR 80 put
BTO the XBI 28 APR 75 put

Master Portfolio is trading 5 contracts