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%.

Update 12/2/11

MCK PCCRC

No trades were made on MCK the last 2 weeks. Profit is down due to the rallying market and falling IV. Currently profit is 2%.

BIIB PCCRC

No trades were made in BIIB either. Profit now stands at 5%.



IV usually drops in December so I will not be looking for new trades until the first of the year.