The markets were slightly up this week although I had some whipsaw action on my diagonals which were down 1%. I have found that you have to be able to handle large swings of p/l with diagonals as the profit can swing widely from day to day.
NOV Bullish Diagonal
I made one trade on NOV this week uncovering the long Friday afternoon. The fill was $1.70 for buying back the 4 Jan 11 65 calls. Overall the profit stands at +223% on NOV.
FCX Bullish Diagonal
I covered FCX Wednesday afternoon by selling 2 Jan 11 120 Calls for $2.50. FCX has moved up since then closing at 113.70 today and profit on the diagonal is 160%. There was a dividend this week on FCX that lowered my strikes by $1.00, making me now hold the 119 and 99 strikes instead of 120 and 100.
XLE Bullish Diagonal
There were no trades on XLE this week and the position is still covered, i.e. a diagonal. Profit was up some finishing the week at +180% overall.
CTRP Bearish Diagonal
CTRP had a wild week this week, especially on Tuesday when it dropped about 15%.
Unfortunately the position was covered at that point so I did not get full advantage of the drop. I uncovered CTRP Tuesday afternoon and it has moved up since then closing today at 40.74. I have considered closing the position but for now it is still open and is showing a loss of 16%.
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