Long Biotech, Short Energy Paying Off

So far so good today.

I had these positions on June 14:

$XBI July $70 calls $USO July $70 puts $XLE August $70 puts

I bought a large position July IBB $120 calls yesterday, I bought more USO puts this AM, and have been adding Jul 8 QQQ $300 strike calls. I added XLE $76 strike puts expiring today yesterday, after closing (too early) my VLO short. But the deltas climbed up on me. Still planning to re-enter.

VLO and the Crack Spread

Crude is Cracking

I picked up VLO puts before the FOMC. XLE is fine, but I think VLO will underperform.