Update 4/2/10

I was unable to give any updates this past week as I was on vacation. I did not make any adjustments or open new positions.

RUT IC

I had an order in to close the RUT IC at a 12% profit, but it did not fill. With the 3 day weekend theta decay this order will hopefully fill on Monday. Currently the profit stands at 11% with RUT at 684. Delta stands at -.26 and Theta is at 29.34, almost perfectly positioned.

WSM PCCRC

The WSM position has not done much and currently sits at a loss of 0.6%. WSM is at 27.04 with the short strike at 25. The IV of the long options is pretty much unchanged from when the position was opened.

CREE PCCRC

The CREE position endured a very bad week losing some profit every day.  Currently the position is up 13%, but that is from a high of near 30% profit. In future positions like this I need to put in a stop-loss so if a position reaches 30% profit I will close it if profit drops to 25%. Unless a stock continues going up after a PCCRC is opened, the max VEGA profit is usually around 30%. At this point I will continue holding this position and see if IV will rise as we near earnings 4/21. IV dropped to 45.35 and 46.55 on the original long calls and puts on Thursday after they were both over 47 on Wednesday. CREE has been trading sideways near 70 and closed the week at 70.60.

AAPL PCCRC

The AAPL position ended the week basically flat and has lost 8.5% overall. Same game plan here, we'll see if approaching earnings helps the position, although it looks like this one is going to be a loser.