Tuesday 3/2/10 update

All I have going right now are PCCRC positions and they did surprisingly well today considering the market was up and VIX was down to near 19.

HAS PCCRC

The HAS position gained 2% today and is down 6% overall. HAS was up 0.55 and now sits 3 points above the short strike price. IV was up about 1/2 point on the longs today giving the gain but it is down about 1.5 points since opening the position. 

FDO PCCRC

The FDO position was flat today and is down 9% overall. FDO rose 0.23 to 32.95 while IV was up about 0.2 on the longs. Like HAS, IV is down about 1.5 points since opening the position.

AAPL PCCRC

AAPL was flat today while the AAPL position gained 0.5% and is down 7% overall. IV on the long AAPL contracts was flat today but have lost 5 points since the position open. If I had waited until after the IPad announcement that would have helped some, but IV in AAPL has dropped to the lowest level in a year, which I will show in the second graph. the hope is this will turn around prior to the next expected earnings around 4/26.

CREE PCCRC

CREE was down 0.70 today but the position was up 1% and is up 27% overall. IV on the longs is up over 8 percent since the opening trade. If IV approaches 50% I will be closing this trade and collect the profits.