Feb 12

AAPL – sticking around the 500 mark (as of now)

Think AAPL will go lower. But today is options expiration and did not want to wait for the end of the day for a huge potential move either way. Also, it is the long weekend and the market seems sleepy.

So, sold my 1 lot $500 put at $1.45 for a gain of $0.84 or 137%

Still have the following puts in place:

24 Feb $490 put 1 lot at cost of $4.73 per contract

Mar $480 put 2 lots at cost of $11.08 per contract

Mar $440 put 1/2 lot at cost of $2.39 per contract

Sphere: Related Content

Feb 12

AAPL – Too Fast Too Soon

I have been burned with the AAPL stock movement over the last few weeks. I did not expect the bounce after the bounce post earnings. Anyway, as of this morning the stock was up over 2% up-to $526 and do think, at least for the short term, the stock is finally done with its run.

So, playing a very short term low-cost trade as follows:

Bought 1 lot of the Feb $500 put at $0.61.

The stock needs to go down to $499.39 for me to break even at expiration which is 2.5 days away. However, the idea is to cover the trade by tomorrow. My expectation is the stock will touch $515 again and my trade will already show a good profit.

Sphere: Related Content

Get Adobe Flash playerPlugin by wpburn.com wordpress themes