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NaughtyPines
Oct 13, 2023 3:33 PM

Opening (IRA): XBI January 19th 55 Short Put Long

SPDR Series Trust SPDR S&P Biotech ETFArca

Description

... for a .61 credit.

Comments: Adding a rung to beaten-down biotech at strikes better than what I currently have on in October at the 76, November at the 71, and December at the 63, targeting the <16 delta strike paying around 1% of the strike price in credit.

I'll be assigned shares on the 76 here shortly (and possibly the 71), after which I'll proceed to sell call against.

Trade closed: target reached

Out for a .30 debit (50% max). .31 ($31) profit.
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