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SPDR Series Trust SPDR S&P Biotech ETF

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XBI trade ideas

XBI biotech ETF EW count optionsSharing an intermediate view of the EW count options for XBI. The short-term bullish range is $97-$98. The short-term bearish target ranges are $89 - $88.50 and $87. The bearish count, in red, drops the price to $81ish as first support. If, $81 range does not hold, $72 is the C wave target. In the meantime, I anticipate a lot of chop in the range from $86 - $100 in the next couple months until a rate cut occurs. As speculation of a rate cut increases, the price can begin to gravitate toward $104. When an interest rate cut is proposed, XBI will blast to the $140s but I am reserved about this outcome at this time.
AMEX:XBI
by MontBel
1
Opening (IRA): XBI July 19th 83 Monied Covered Call... for an 80.91 debit. Comments: After taking off my August 88 monied for a small profit, re-upping in shorter duration, but with a better break even than what I had with the August 88. Selling the -75 delta call against a one lot of stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. My general goal here is to not hang out in these positions for lengthy periods of time, but to take profit, re-evaluate the market for where the juice is at, and re-up if the underlying remains "sexy" from a premium-selling standpoint. XBI's 30-day IV isn't stellar at 30.9%, but it's toward the top of my IV screener, with miners and the silver ETF hogging three spots: TQQQ (51.8%); GDXJ (44.0%); GDX (38.7%); SLV (32.3%); SMH (31.6%); EWZ (31.1%); XBI (30.9%). Metrics: Buying Power Effect/Break Even: 80.91 Max Profit: 2.09 ROC at Max: 2.58% ROC at 50% Max: 1.29% Will generally look to take profit at 50% max and/or roll out the short call aspect if it reaches 50% max or there is a test of my downside break even.
AMEX:XBILong
by NaughtyPines
$XBI Looking to Breakout (Again)?AMEX:XBI Firstly, I may have an unhealthy attraction to this ETF. I have been in and out of this ETF a number of times over the last few months and overall, just a few $ profit. Having said that this has been basing Since January 2022. The longer the base the bigger the break, or so the Wall Street Axiom goes. It did breakout in February 2024 and quickly failed (I have a link below of my last idea). And there is another idiom: from failed moves come fast moves, and it did move quickly down. Now it is back to the original breakout “area” so this may have been a simple shakeout. Here is what I like about it now: It looks to have gotten support near the 40 Week MA. It looks to be regaining the 10 Week MA (Yellow) and is solidly above the 5 Week MA. This weekly chart looks much better than the daily chart. This is my plan, “if” the market is doing well this coming week and this moves above last week’s close of $91.18 I plan on opening a new position with a maximum stop below last week’s low of 87.68 which is about a 4% position risk. My thesis is that it can easily go back to retest the 103 – 104 area which would be about a 10% gain. My idea, your money. If you decide you like this idea, make sure that it fits with your trading plan on your timeframe. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Comments always welcome. Thanks for looking.
AMEX:XBILong
by jaxdog
$XBI Breaks Out of DowntrendAMEX:XBI I put this trade on yesterday morning as it broke above the short term downtrend line. However, I closed it near the end of day as the whole market was giving up its gains. (I did make a small profit). I am now back in it again as it regains the 20 EMA (green). My stop is just below today’s low which also corresponds with the 20 EMA. It looks like there “could” be resistance in the area it is trading today. I think if it can get over yesterday’s high, we could see it test the 50 DMA in red above. That is about $4 above where it is trading currently. All to be determined. I did have a trade idea on this back on March 17th. Link to that idea below. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
AMEX:XBILong
by jaxdog
Opening (IRA): XBI June 21st 82 Short Put... for a 1.90 credit. Comments: Selling a put here, since the resulting cost basis if assigned shares would be lower than the cost basis of the position I've currently got on now. The full position is now a June 21st 82/88 covered strangle (i.e., short put, stock, short call). Will look to take profit at 50% max. Metrics: Buying Power Effect/Break Even/Cost Basis in Shares if Assigned: 80.10 ROC at Max as a Function of Buying Power Effect: 2.37% ROC at 50% Max as a Function of Buying Power Effect: 1.19% Delta/Theta: 23.36/2.42
AMEX:XBILong
by NaughtyPines
XBI the ETF for Biotechnology LONGBiotechnology is expected to be a hot subsector this year as healthcare recovered further from the COVID pandemic anything from startups to big pharma- from vaccines to new drugs for diabetes, liver disease and obesity. This is shown on a weekly chart to show the long term trend with XBI pivoting to bullish back in early November. I add long positions when I see a dip on the 3-4hr chart. My targets are the fib retracement expectation at 116 confluent with the first upper VWAP band line and then the 135-138 zone underneath the second upper line shown in thin red on the chart. This ETF smooths out the volatility characteristic of some of the smaller biotechnology firms making it safer albeit with lesser rewards expectations. Positions in NVAX and MRNA are having a good start to the week and will reflect in a small way in this ETF which has broad constituent stocks within its portfolio.
AMEX:XBILong
by AwesomeAvani
1
Opening (IRA): XBI May 17th 88 Monied Covered Call... for an 85.94 debit. Comments: 32.5% 30-Day IV. Buying a one lot and selling a -75 delta call against to emulate a 25 short put, take advantage of call side IV skew, and to have built-in defense via the short call. Metrics: Cost Basis/Break Even/Buying Power Effect: 85.94 Delta/Theta: 28.5/4.31 Max Profit: 2.06 ($206) ROC at Max: 2.40% ROC at 50% Max: 1.20% Will generally look to take profit on the entire setup (stock + short call) as a unit at 50% max; look to roll the short call for duration it hit 50% max at any time to reduce cost basis further; add short put, assuming I can get in at a strike with a lower break even than what I currently have on.
AMEX:XBILong
by NaughtyPines