The XLE Bullish trade.
The energy sector in the down environment was holding up well, even on the down days. At the time of entry, it was at 63.80 & we were targeting the previous high at 65.
Bull Call (BTO +60c/STO -63c) debit 2.00 (got filled at 1.98) Max profit of the Bull Call is 1.02
Bull Put (STO 60p/BTO 55p) credit 0.77 (sold two of them, bring in the total of 1.44)
Together, this double vertical costs us 0.54 or $54 while its margin is 1K. Max profit of the Bull Call is 1.02 once the February 2022 expiry takes & XLE is at 65 meanwhile both Bull Puts expire worthless.