Update 5/6/11

Most of my diagonals hit stops and were closed this week. Depending on what the market does here I will either open some new bullish diagonals and bearish diagonals.

NOV Bullish Diagonal

On Tuesday I decided to close NOV based on the NOV chart breaking through resistance. Final tally on the trade was a profit of 207%.

XLE Bullish Diagonal

On Friday I closed the XLE bullishj diagonal based on the chart and a stop being hit. Total profit on the trade was 296%.

UA Bullish Diagonal

For the same reasons I closed UA on Tuesday with the final profit at 116%.

CTXS Bullish Diagonal

CTXS was down the first three days of the week but then bounced back some on Thursday and Friday. On Tuesday I rolled the short calls out to June for a 0.75 credit as they had dropped to 20% of their initial value. There currently is a loss on the CTXS bullish diagonal of 13%.

CTXS PCCRC

The paper trade of the CTXS PCCRC has faired better than the bullish diagonal, which would be expected since the diagonal is a directional trade and the PCCRC is delta neutral and the stock has went down since the trade was initiated. There were no adjustments made to the PCCRC and the current profit is 2%.