Sold an At-the-Money Put Option For AAPL

Getting a little more adventurous, I sold a $125 July AAPL put for $10.19 today. That would mean if APPL is below $125 on July 15th, I'm buying AAPL for $114.81. If this were to happen I would immediately sell a call option to reduce risk and the amount of capital I would be paying margin interest on.

I just have to be careful to take my gains on my short July $100 AAPL put if the stock gets much below $120; I should probably put a conditional order in. The ISRG $100 Jan '10 put is looking very tempting...(to sell). However, I definitely won't open another position until I've gotten rid of the liability of the $100 AAPL July put.

Disclosure: short Jul '09 $125 AAPL put option
short Jul'09 $100 AAPL put option