Saturday, September 10, 2016

AAPL-2 Hedged Trade #5

Aug 31

AAPL stock is pulling back slightly. There is quite a bit of supply overhead in the 110-112 level and there should also be demand somewhere around the gap from the previous earnings.

The stock is coming back to life and starting move. September should see volatility pickup back up and I anticipate the stock to start moving significantly.

I am going to add another month of time and moving the strikes up and out in time.  This gives me some room to the upside and also the ability to roll down in the coming weeks if the stock drops.

Trade

+7c Sep 23 107 Call @ 1.824
-7c Oct 7 108 Call @ 1.854
Net credit: 0.03/c

Total credit: $21
Total commissions: $9.68

Current position P/L is $604 (gross) with break evens at 103.40




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