Update 8/19/11

I created this last Friday, but for some reason it didn't post. Sorry for the delay.

LULU Bullish Butterfly

I closed LULU on Tuesday by selling the inverse of the position for a 6.10 credit. LULU crashed downward since then showing the danger of holding a directional butterfly too close to expiration. Today the position would have been a max loss, but by getting out Tuesday LULU posted a 74% gain.

KMX Put Seagull

I decided to close the KMX Put Seagull yesterday as it was posting a small loss and I have a rule not to roll losing PCCRC positions. As it turns out this one would have been profitable by today but it wasn't worth the risk. The final tally on this trade was a loss of 2%.

JOYG Call Seagull

I also closed the JOYG call seagull on Tuesday. When IV in the long options get over 50 I usually will exit a PCCRC. The JOYG ended up with a 9% profit.



AAPL Put Seagull

I rolled the shorts in the AAPL Put Seagull out to September yesterday for a 7.5 credit. This trade is doing well and boasts a profit of nearly $5k.

NKE Call Seagull

On Monday I opened a new Call Seagull in NKE. After 4 days the position sports a 4% profit.



NVS PCCRC

Today I opened a new PCCRC in NVS. This one is iffy as the IV/SV is over 1 but the risk graph looks really good almost completely above 0, so we will see how it does.