This week was good until today, when the market went down against all of my bullish diagonals. I am looking at some bearish positions also, but haven't found a good entry point yet. This week the accounts are down 4% giving back a little of the gains from the last couple of weeks.
RVBD PCCRC
I wanted to free up some cash for new positions this week, so I ended up closing all of my PCCRCs. I plan to stick to diagonals for a while, but I could return to the PCCRC trade in the future. I closed the RVBD position on Thursday, and the final tally was a gain of 25% of the initial debit.
COH PCCRC
I also closed COH on Thursday and the overall profit on the position was 5%.
SOHU PCCRC
SOHU was closed on Monday netting 11% profit.
NOV Bullish Diagonal
No adjustments were made to the NOV diagonal this week, although I will be covering the long Monday if NOV is down again. Despite NOV closing today down 3% to 57.65, overall the position is up 178%.
FCX Bullish Diagonal
FCX is still uncovered with no adjustments this week. FCX will also be covered Monday if it is down again. Overall P/L is close to where it ended last week, +68%.
XLE Bullish Diagonal
XLE also had no adjustments this week and ended today at 62.87. It will also be covered Monday if down again. Overall profit is currently 108%.
LVS Bullish Diagonal
On Wednesday I covered LVS after 2 down days in a row by selling 3 Dec 55 Calls for 1.75. Today LVS closed at 48.52 and the total profit is 131%.
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