I am recommending we roll our SPDR S&P Biotech ETF (XBI) call to capture more potential appreciation, generate income and reduce our cost basis on the position.
Current Stock Price: $91.29
Cost Basis: $101.78
- Buy to close the XBI Mar Week Four (3/25) 90 Call for around $1.81
- Sell to open the XBI Apr Week One (4/1) 92 Call for around $2.02
- Set initial credit limit order at $0.21, but adjust as needed to roll today
New Cost Basis: $101.57