I've modified the code taken from here to meet your requirements.
public void CreateEllipse(int a, int b, int h, int k, float theta)
{
VertexPositionColor[] vertices = new VertexPositionColor[vertexCount];
//Drawing an Ellipse with its major axis parallel to the x-axis. Rotation can be applied to change this.
Vector3 position;
const float max = MathHelper.Pi;
//2 * max since we're moving from -Pi to +Pi in the loop.
float step = 2 * max / (float)vertexCount;
int i = 0;
//Optional Axis and angle rotation for the ellipse (See later notes):
//Vector3 axis = new Vector3(0, 0, -1);
float angle = MathHelper.ToRadians(theta);
for (float t = -max; t <= max; t += step)
{
//Formula shamelessly taken from wikipedia
position = new Vector3(h + a * (float)Math.Cos((double)t), k + b * (float)Math.Sin((double)t), 0f);
//Optional Rotation for the Ellipse:
//position = Vector3.Transform(position, Matrix.CreateFromAxisAngle(axis, angle));
vertices[i] = new VertexPositionColor(position, Color.DarkOrange);
i++;
}
//Optional Rotation for the Ellipse:
position = Vector3.Transform(position, Matrix.CreateFromAxisAngle(axis, angle));
//then add the first vector again so it's a complete loop (sounds familiar)
position = new Vector3(h + a * (float)Math.Cos((double)-max), k + b * (float)Math.Sin((double)-max), 0f);
vertices[vertexCount - 1] = new VertexPositionColor(position, Color.DarkOrange);
vertexBuffer = new VertexBuffer(device, vertexCount * VertexPositionColor.SizeInBytes,
BufferUsage.WriteOnly);
vertexBuffer.SetData<VertexPositionColor>(vertices);
}