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Income Masters Trade Alert: XBI

I am recommending we close our SPDR S&P Biotech ETF (XBI) put early rather than hold through expiration and risk the position turning against us.

Our active recovery strategy has allowed us to walk away from a position that was deep underwater – with a net debit as high as $14.77 at one point — at breakeven. Let’s do so.

Current Stock Price: $82.96

Cash in Hand: $0.49

Action: Buy to close the XBI Jan Week Two (1/13) 80 Put for around $0.49, but adjust as needed to close today

Profit: $0, or $0 per contract

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