Update 3/16/10

Monthly SPX IC

SPX rallied today causing the position to get close to an adjustment point. After looking at some possible adjustments, I have determined that there is not enough contracts to make an adjustment with 25 point wide strikes, so instead I will adjust by closing the threatened side. The position is down 11%.

AAPL PCCRC

I did not do anything on the AAPL position today and it is now down 9% overall.

CREE PCCRC

I made another adjustment by rolling a second long call from the 60 strike to the 75 strike for an 8.30 credit. Here is the risk graph without those adjustments:

Here is the risk graph with the adjustments:

The adjustments protect the profits if CREE moves back lower. The CREE position is up 23%.

I will be looking for an OEX 2.5 day IC and a monthly RUT IC tomorrow.