The market was down early this week but recovered Thursday and Friday giving my bullish diagonals a 4% gain on the week.
NOV Bullish Diagonal
On 3 of the 5 trading days this week I made trades in NOV. On Monday, I covered the long by selling 3 Dec 60 calls after NOV was down 2 days in a row. When NOV recovered on Thursday, I rolled the longs up and out to the May 55 strike and also rolled the short up to the 65 strike. I was also able to increase the number of shares to 4 with these trades. Today I uncovered NOV by buying back the short calls. So the current position is 4 long May 55 calls with overall profit at 212%.
FCX Bullish Diagonal
I also made 3 trades in FCX this week. On Monday I covered the long by selling the Dec 110 long. After another move down Tuesday I rolled the short down to the 105 strike. Then today I uncovered the long by buying back the short 105 call. Overall profit is 52%.
XLE Bullish Diagonal
XLE followed the same pattern as FCX. Covered on Monday, rolled down on Tuesday, and uncovered today. Overall profit is 110%.
LVS Bullish Diagonal
LVS entered the week covered and on Wednesday I rolled the short down from 55 to the 50 strike. Then today I uncovered and bought back the short. Overall profit stands at 129%.
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