Today, I exited the option call June 15, 2018 $44 on XHB when it passed my original target price and then pulled back as shown in the chart below. With the market's relentless rising, I'm in a wait and see attitude to enter new bullish trades.
The XHB was a 36 day position trade that worked out perfectly with a profit of 69% since its entry. On January 5, I rolled up and out for the original call of March 16 $42 to June 15 $44, as the option delta reached 0.8 to take some profits off. Since then there was only one time of a 2 consecutive day price drop. XHB just followed the SPX general market for a month, not outperforming or under-performing.
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