Monday, April 16, 2012

closing the trade from -4-16/2012 todays $AAPL entry

17 apr - took profits on today big up day.

Buy to close - May515/520 credit put spreads .63x10 =$630
Profit for one day trade: $320

strategy of this trade was not to hold till may, but to take advantage of the huge drop, spike in premiums, spike in IV and hitting a support line.. intention was to be out prior to earnings. about at 35% winner..Next.

16apr per the setup from this weekend. stock selling of this morning, was looking at the fat crayon level of the post gap lownear 580..stock was moving fast since most of move happened in few minutes. was looking at level at/below the low near 520 from few months ago to shoot against.. entered order at high side of bidask. got filled as it bounced around..not an exact tag of this line but close enough. also IV spikes as it sells off so the spread premium gets juiced a bit as well. Spread is under the 50day moving average also. i would like to close this out ahead of earnings but am ok holding this level if necessay if it goes down further.

Sold May 515/520 credit put spreads at .95 x10 =$950 credit