SPDR S&P Biotech ETF (XBI – NYSE)
By Bottarelli Research
Published Wednesday, April 06, 2016
Last Thursday we told you biotech stocks were ready to soar. Now just four trading days later, the SPDR S&P Biotech ETF XBI – NYSE is up 11.6%. So just how much did our sharp trader make?
Bottarelli Research Translation: The customer we tracked originally bought 10,000 April 52.5 calls for $1.20 each last week. He sold half of his position yesterday for $2.60 per contract, locking in partial gains of 116% in the process. Not bad, right?
Today, his fortunes fared even better as the biotech rally skyrocketed. At the close of trading, these calls were worth $5.35 apiece. That means on the remaining 5,000 contracts, he’s looking at gains of 346%. Do a little math, and in less than a week this trader turned a $1.2 million investment into more than $4 million.
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