Our SPDR S&P Biotech ETF (XBI) put expired worthless last week. I am recommending a new put to sell to generate more income and reduce our net debit on the position.
You can enter the second leg of today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $87.02
Net Debit: $9.20
Action: Sell to open the XBI Sep Monthly (9/16) 82.50 Put for around $0.78, but adjust as needed to sell a put today
New Net Debit: $8.42