Selling Swing: AAPL 340 Jan calls at 9.10-9.00 1/2 from 2.72
Posted: Tue Jan 18, 2011 2:21 pm
Selling Swing: AAPL 340 Jan calls at 9.10-9.00 1/2 from 2.72 thats 234% pure profit on a 4X OVERSIZEd position. This is a position we accumulated since december and only friday this was closer to 400% profit but we could not of seen this news of Steve jobs medical leave coming. Still the short on 365 calls have lost premium and now with the addition of the short on AAPL 315 Jan puts from 2.03 today now already down to .79 cents U could lock in profits on that short at well over 50% profit but here will hold the full short on puts position to work as a strangle along with the short on 365 calls into these Es. Even if the Es are spectacular this news of the leave of jobs will most likely hold the stock back significantly enough to not allow a move as high as 365 strike but if it dose we still retain 1/2 of these jan 340 calls now 2x oversized still to help the strategy even in that unlikely event.