Wednesday, November 11, 2015

AAPL Update #43

Nov 11

Analysis

AAPL continued to drop a little this morning on more news of reduced orders. It traded down to the mid 115s.

I am going to tighten the collar a little more with the Nov 20' expiry approaching in a week. By rolling down the calls and collecting more cash. AAPL is also going to be paying a dividend on Nov 12 which will add about $350 to the cash balance.

There is still some supply overhead where the gap down occurred this week, so any subsequent roll up and out needs to get to the 120-121 area.

When the dividend is released to the account, I will add that to the cash balance and purchase more stock.

Trades

+7c Nov 20' 121 Call @ 0.33
-7c Nov 20 118 Call @ 0.98
Net Credit: 0.65/c

-End