Closing Pair Trade of Long XLU vs. Short XLY
Sell XLU @ $74.97 - realized gain of $0.72 (0.97%)
Cover XLY @ $187.76 - realized gain of $1.60 (0.84%)
Total Realized Gain: 1.81%
Pair trades are a bit like black magic. You use zero money and make money. Like turning air into water or lead into gold.
I would keep this position on longer, but can't resist the urge to lock in a nearly 2% gain in less than a day. I pushed my gross exposure up by 40% yesterday and this will pull back half of that.
I'm now sitting at 58% gross and 38% net. I'll be ready for the next opportunity!
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