Update 5/27/11

CTXS Bullish Diagonal

CTXS started the week down the first two days and on Tuesday I covered the longs by selling 2 Jun 87.5 calls for 0.85. CTXS was up the rest of the week and on Thursday I uncovered the position again by buying back those same 87.5 calls for 1.40. Profit on the CTXS diagonal position is 18%.

CTXS PCCRC

I did look at adjustments on the CTXS PCCRC but the underlying has not moved far enough to start locking in delta profits. CTXS will probably have to hit the mid 90s for an adjustment to make sense. Total profit on the CTXS PCCRC is 14%.

CSC Bearish Diagonal

I set up a bearish PCCRC indicator and CSC appeared on it this week. On Thursday I opened a new bearish diagonal in CSC buy buying 4 Sep 40/-4 Jun 35 diagonals for 4.50 debit. Ever since opening the position CSC has continuously moved up and today I rolled the short up to the 37.5 strike for a 0.43 credit. The chart of CSC still looks bearish so I am sticking with the trade unless a stop is hit. After 2 days there is a loss of 32%.



GES Bullish Diagonal

GES showed up on my PCCRC Spiker scan yesterday and I decided to make the same type trades as I have on CTXS. I will open a bullish diagonal and paper trade a PCCRC. The bullish diagonal is 3 Sep 41/-3 Jun 46 for 5.00 debit. Today I uncovered the position by buying back the short call for 0.80. After two days the profit is 1%.



GES PCCRC

I also opened the GES PCCRC paper trade yesterday. This was a 2/2/-1/-1 Sep/Jun PCCRC for 11.90 debit. The GES PCCRC is profit is 0%.