Weekly Update 11/5/10

Another good week this week with an overall gain of 18%. I may need to rename this blog from VEGA Trading to Diagonal Trading, as the diagonals are smoking the PCCRCs, and I am becoming sold on the diagonals being the best way to grow an account. My PCCRCs have a ROI of 6.2% this year while the diagonals have a ROI of 84% while requiring about 1/3 the debit of the average PCCRC.

PCCRCs 

Since I made no adjustments or new PCCRC trades this week, I will not list any individual risk graphs. Next Friday will be adjustment determination day for the PCCRCs.  

RVBD had a small gain on the week with overall profit now at 21% and RVBD at 59.28.

COH was stagnant still showing a 4% profit while closing at 52.92.

SOHU closed at 74.05 and also shows a gain of 4%.

NOV Bullish Diagonal

I still have uncovered longs in NOV although I did take some delta profits this week by rolling from the 47 to 50 strike. NOV closed the week at 58.77 and total profit stands at 204%. No, that number is not annualized, which would be ~ 2100%. 

FCX Bullish Diagonal

FCX moved up and I rolled the long call out to Feb and up to the 90 strike. FCX closed the week at 104.84 and profit is now 71%.

XLE Bullish Diagonal

XLE also moved up this week causing me to uncover the longs by buying back the shorts on Tuesday. I also rolled the longs out to Mar and up to the 58 strike. I am trying to position my longs 4-6 months out right now which is Feb, Mar, or Apr expiration months. XLE closed the week at 62.31 and the position is up 88%.

PNC Bearish Diagonal

PNC traded up the last three days of this week to the point where I felt the bearish pattern was broken. I closed the position out today for a 46% loss.

LVS Bullish Diagonal

LVS chugged higher again this week and I was able to roll the long calls up from the 40 to 45 strike. LVS closed today at 51.98 and is showing a profit of 186%.