Update 3/12/10

Monthly SPX IC

SPX closed the week at 1150 and is within about 5 points of requiring an adjustment on the calls. The position is down 7% at this point.

OEX 2.5 day IC

On Wednesday I opened a IC in OEX with short strikes at 515 and 535. I received a .25 credit and the position expired out of the money today for a 5% gain.

HAS PCCRC

I adjusted HAS Monday by selling one of the long calls. The position before the adjustment:

The adjusted position:

This locks in some of the gains in case the underlying moves back lower. 

Friday I looked at rolling the shorts to the next month but since the position was not profitable I chose to close the position. The final tally was a 5% loss.

FDO PCCRC

A similar path was followed on the FDO PCCRC. First I did an adjustment to lock in delta gains. Then I ended up closing the position Friday. The risk graph prior to the adjustment:

The risk graph after the adjustment, note mark is near the bottom of the U shape of the current risk graph meaning profit will go up if the underlying moves either way:

The adjustment this time was rolling to a higher strike since I only had one extra call. The final tally of FDO was a loss of 4%.

AAPL PCCRC

AAPL is still not cooperating and I attribute it to the poor entry time. I have not rolled it to Apr as I am waiting for some more premium to decay and will likely close the position rather than rolling. Currently the position has lost 7%.

CREE PCCRC

CREE is still doing well. I have an order to buy back the short puts at 0.05 and once it executes I will roll the position to Apr. The position is up 28% currently.