It has been busy the last couple of weeks with some travel in my day job so I missed updating the blog last week.
NOV Bullish Diagonal
NOV has gone up almost every day the last two weeks and posted good earnings yesterday. On Monday I rolled the longs up and added a couple of more contracts after the long delta hit 0.85. The trade was sell 6 May 11 60 calls, buy 8 May 11 65 calls for 0.60 credit. After earnings yesterday I bought back the short calls uncovering the position. NOV is now the best performing diagonal I have had with profits now standing at 603%.
XLE Bullish Diagonal
XLE has been chugging upward the last two weeks as well. Last week I rolled the longs up from the 63 strike to the 68 strike adding 2 contracts for a 0.10 credit. This week I rolled the longs up again from the 68 to the 70 strike for another 1.43 credit. Yesterday I bought back the 3 shorts for 3.65 to allow the long to run uncovered. Overall profit now stands at 408%.
UA Bullish Diagonal
UA had two adjustments last week. First I bought the 2 short 60 calls back for 1.30 on 1/27. On 1/28 I rolled the longs up and added another contract for a 1.65 debit. So the current position is 3 Jul 55 calls. UA was up 5% today giving the majority of the current 93% profit.
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