Update 12/9/11

MCK PCCRC

MCK was closed today as it had become a loser a week before the short expiration. The position was closed by selling 2 8/8/-5/-5 MCK Feb/Dec for 42.95 credit. The final tally on the trade was a loss of 4%.

BIIB PCCRC

Today I rolled the shorts in BIIB from Dec to Jan for a $5.50 credit. Profit on the trade is now at 6%.