Update 7/1/11

The VIX dropped quite a bit this week having a negative impact on the PCCRCs but a positive impact on the bullish butterfly.

CTXS PCCRC

CTXS continued to move up for the second straight week making the adjustment of 2 weeks ago (rolling the put down) look like the right trade. IV has fallen as CTXS has moved higher making the p/l drop some from last week and is now at +7%.

TIF Call Seagull

TIF moved to higher this week including a new high today at 79.58. I took some profits on the long calls by rolling 6 from the 70 to 75 strike for a 3.45 credit.With IV moving down there is a loss overall of 2%.



LULU Bullish Butterfly

The LULU trade has performed well so far thanks to LULU moving higher all week hitting 115.93 today. Currently there is a profit of 34%.



KMX Put Seagull

KMX moved higher this week with dropping IV also. No adjustments were made on KMX and it currently has a loss of 3%.