Weekly Update 2/12/10

No new PCCRC's were opened on Thursday or Friday although BIDU did show up on the screener as a viable candidate after earnings but a PCCRC in BIDU would require a very large position, and I chose not to create one. 

The graphs below show the profit/loss for my open positions.

SPX Monthly Iron Condor

I was able to close my SPX monthly IC Friday somewhat surprisingly as I had a limit order that filled at the mid (50% of the bid/ask) and Thursday the same order would not fill at 88% of the bid/ask. I guess that is just part of trading the SPX. The final profit on the position was 15% of the original margin requirement. I realize the margin went higher with some of the adjustments that were made, but rather than doing an average and complicating the calculation, I will just use the original and base my target and other calculations off of that.

OEX 2.5 Day Iron Condor

This position was never really threatened on Friday spending most of the day at the midpoint price of 490. The options all expired out of the money yielding a 10% overall profit.

HAS PCCRC

The HAS PCCRC was up 1% on Friday and 10% overall despite the stock being down 0.59 to 35.55.  The IV of the long options were up 2 points (which I track daily) causing the profit.

FDO PCCRC

Everything was pretty flat in the FDO position Friday with the overall loss right now at 5%.

AAPL PCCRC

The AAPL PCCRC was up 2% Friday with AAPL crossing the 200 barrier to 200.38. This is the last PCCRC to be adjusted in February, and I am waiting a little longer than normal to adjust it. I entered this PCCRC after earnings as a high flier rather than an earnings jump. The IPad was announced a few days later and I believe that pending announcement kept IV from dropping as much as normal after earnings. I will decide next week to roll or close the position, which is down 1% overall.

CREE PCCRC

The CREE PCCRC continues to be the star of the bunch and was up another 2% Friday and 19% overall.