Thursday, July 16, 2009

Out of AAPL July 125 Put

I bought myself out of the short AAPL 125 put for $0.05 on Tuesday.  Leaving my gain from the transaction at ($10.19 - $0.05)*100 - $3 commission = $1,011.  A solid 3 month gain.

I'm expecting a beat for AAPL on earnings next week which isn't saying much since everyone expects a beat, and AAPL's recent move up above $140 shows that a beat is being priced in.  The October 140 put that I sold for $13.51 is already down to about $7.  I might roll this up to an August put because the August put is selling for $3.70.  Holding that position an extra 2 months for a $330 gain doesn't seem worth it.

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