Just a couple weeks ago, we put on a delta neutral credit spread in the Industrials $XLI to take advantage of pumped up volatility. That trade worked out quickly and we got out of it at our price target on Monday of this week. One for the good guys.
Now, $XLI is bumping up against some formidable upside resistance. And with options premiums still elevated, we’re going to use them to leverage into a bearish directional bet here.
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