CTXS Bullish Diagonal
The CTXS bullish diagonal was closed on Monday rather than covering the position as the chart no longer looked bullish. Final tally on the trade was a 20% loss.
CTXS PCCRC
I rolled the shorts on the CTXS PCCRC from June to July today for a $3.10 credit. The two things I looked at were 1) was the trade profitable (yes), and 2) were the IVs higher in Jul (selling) than Jun (buying) (yes). The CTXS PCCRC currently has a profit of 6%.
CSC Bearish Diagonal
I uncovered the CSC bearish diagonal on Monday. I actually broke a rule on the trade in that the MACD was not down 2 days in a row with the 2 down days in the stock. But the stock was down 5 consecutive days yet somehow MACD was still green each day, so I decided to uncover. I paid $0.85 to buy back the Jun 37.5 puts. CSC is down 0.31 since that trade and overall there is a loss of 17%.
GES Bullish Diagonal
I closed the GES bullish diagonal on Wednesday after the p/l hit my stop-loss point. Final tally on this one was a loss of 49%.
GES PCCRC
The GES PCCRC failed the first test of rolling as the position was at a loss today when I made the rolling decision. So I closed the position today which ended with a loss of 10%.
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2 comments:
Though a deviation from the PCCRC rules, did you consider only selling the 11-Jul 80 Put @ 3.6 as opposed to the 11-Jul 85 Straddle as advised?
Perhaps Greeks look better with the 11-Jul 80 Put?
With earnings at end of July
do you have an estimate of IV based on previous data?
Tom
Tom,
Selling the Jul 80 put would be a debit trade when you add the cost of buying back the short Jun calls and puts. So it would add risk to the trade. It also would change the trade to a completely bearish trade which I do not want. If CTXS moved up I would start losing money quickly.
Tim
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