Opened XHB bear call spread

I've opened a March bear call spread on XHB, with the stock price at $15.46 and the option spread providing a 49-cent credit.

XHB, as I noted earlier this morning, is showing a strong macd bear signal on a multi-day decline. The position could be played as either directional or as a direction-agnostic iron condor.

I went directional because I see maybe 8% downside through support, and a very strong macd signal. Also, the final day of trading March options is only 21 days away, so I'll get good time decay through less than weeks of exposure.

The spread is structured like this: I sold a $15-strike call, and I hedged it by buying a $16-strike call (-c15/c16).

The break-even point on this position is $15.49 on the underlying stock.