XLU buying the dip with bull call spread.
Taking an opportunity to buy the 4 day dip on XLU utility stocks etf. The stock fell has fallen -2.59% and am taking the opportunity to buy the weakness and compound returns for the stock to go higher. I bought the November 52 call/ 54 sell call for 1.18$ per contract. When the stock goes up 2.82% at 55$ a share, this vertical call spread will profit approximately 35$ out of the original investment of 118$. That is a return of 29.6% return which I am expecting within the next 3 weeks.
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