Recap, the XLE was a Bullish trade which was adjusted after it hit the target.

PART I = exiting the Bull Call

Entry 63.80
Exit 65.21

Bull Call (BTO +60c/STO -63c) debit 2.00 (got filled at 1.98) Max profit of Bull Call is 1.02

How much did the Bull Call earn?  Not the Max Profit but only $28 but when 28 profit is divided by 200 = it equals 14%

PART II = adjustment to the five-point wide Bull -60/+55 Put

70 call debit 0.74

Sold leg
68 call credit 1.29

High 66.95

XLE 65.37

Bear Call Max Profit
55 = (129-74)

Currently this XLE trade is no longer a Bullish trade but a neutral Iron Condor with unbalance wings, Bull Put side is five-point wide, while is the Bear Call side only two-points wide.  The total investment is kept at 1K.

Josip Causic Asked question February 1, 2022