Update for 2/11/10

SPX Monthly Iron Condor

SPX moved up to help the position but I could not get a fill to close the IC. At one point I was .60 above the mark and within .20 of the ask but still did not get filled. I also tried breaking the order up into 2 verticals but still did not get my asking price. So I will try again tomorrow. The position was up 4% today and 13% overall. 

OEX 2.5 Day IC

OEX was up 4.29 today to 496.58. It is 8.42 points from the short call strike and 21.58 from the short put strike, so hopefully OEX will go down a little tomorrow. The profit was 1% today and 5% total with 1 day left.

HAS PCCRC

HAS was up 0.84 today to 36.14 putting it right at the bottom of the channel of the risk graph. A move either direction should result in profit. Since it is 3.64 points above the short strikes, I will sell a call if it moves much higher to lock in some delta profits. Because it ended at that dip in the risk graph, the position lost 2% today but it is up 4% overall. My only concern is the low IV of the short options which could lead to an early assignment.

FDO PCCRC

The short put in the FDO position was trading at 0.00/0.10 so I put in an order to buy at 0.05. That was filled and I had subsequent orders to buy the short call and sell a Mar straddle which were also filled. All told the adjustment was a 0.66 credit to the position reducing the overall risk. The resulting risk graph does not look that great as IV dropped a couple of points in the long options. It may have been a better idea to close this out- time will tell. Today the position was down 6% and is down 4% overall.

AAPL PCCRC

AAPL's 3+ point move today helped but more is needed to bring this one above water. I will probably decide tomorrow to close this one or roll and give it more time. The position was up 2% today and is down 3% overall.

CREE PCCRC

CREE traded through the short strike today and I rolled the shorts out to March when it did. I also considered closing the position and booking the profit as it was near 20% at the time. I received a 3.57 credit for the roll and the position was up 6% today and 17% overall. The risk graph is currently all above 0.