New bullish credit spread on XLB (materials). After two weeks of bearish movement on XLB, we saw a close above $57.92 support and a bullish open this morning. Looking for bullish to neutral movement this week.
Entry 58.54 Max profit 59.00 Break even 58.72 0.78:1 risk/reward
Adjusted the XLB bullish credit spread to add a bullish credit spread one strike higher.
Max profit 59.5 Break even 59.12 0.31:1 risk/reward