Daily Update

SPX Monthly IC

Day 19 of this trade was a good one with SPX moving up 14 to 1070.5 and the IV of the long options dropping 3 percent. This gave the SPX trade a 7% gain on the day and 8% gain overall. I am starting to watch this one close for opportunities to close before expiration week next week.

HAS PCCRC

Day 2 of the HAS PCCRC trade was a good one with IV of the longs moving up 1.5% giving the position 1% profit. The risk graph now shows a 1:2 risk/reward ratio after starting yesterday at a 1:1 ratio.

FDO PCCRC

FDO did not have a good day as the long options IV  dropped 3% moving the overall profit back to near breakeven. The stock was up 0.15 to 31.60.

AAPL PCCRC

AAPL PCCRC's long options also lost 2% today with the drop in the VIX giving the position a 3% overall loss despite the stock rising 2 points to 196.19. I need AAPL to rise towards 210 but if it does IV will likely drop so I may be in a no-win situation here. The good news is the risk is very controlled so the losses should stay small.

CREE PCCRC

The CREE PCCRC continues to be the best trade of all despite the stock dropping 5 points since the position opened 19 days ago. CREE was up 1 to 57 today and the position was up 3% today, 11% overall.

Tomorrow I plan to open another short term IC in OEX if I find a good trade.