SPDR S&P Biotech ETF (XBI) is on a tear this morning. Let’s book profits on our put, earning a 0.5% return in four days, or 49% annualized.
Current Stock Price: $83.39
Cash in Hand: $0.67
Action: Buy to close the XBI 21 Jul 78.50 Put for around $0.25, but adjust as needed to close today
Profit: $0.42, or $42 per contract