Not much happened in the market between Christmas and New Year's, but I did make a few adjustments to my diagonal positions.
NOV Bullish Diagonal
NOV dropped the first two days of the week so I covered the long by selling 4 Feb 70 calls for $1.39. I could have used Jan options but there was not a Jan strike in the delta range I was looking at, so I went out to Feb instead. After the two down days, NOV went up 3 days in a row and I uncovered the long by buying back the 4 Feb 70 calls for $2.17 on Friday. Although I lost money on the short portion of the trade, I made money overall with NOV going up on the week as a diagonal is still a bullish position when "covered", just not as bullish as the long call when I am "uncovered". Overall profit is around 305%.
FCX Bullish Diagonal
FCX has been alternating up days then down days the last two weeks, so there has not been any adjustments to the current uncovered position. FCX was up on the week and overall profit now stands at 220%.
XLE Bullish Diagonal
XLE continued its uptrend last week to the point that on Monday I was able to roll the longs up and out for a slight debit. The 3 Mar 62 calls were sold and 3 Jun 63 calls were bought for a 0.45 debit. Profit overall on XLE is now 259%.
CTRP Bearish Diagonal
No adjustments were made to the CTRP position last week and CTRP was down on the week. Overall there is a loss on the position of 20%.
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