Tuesday, July 24, 2012

how i'm positioned for $AAPL earnings

first off...my diagonal spreads that i continue to have are doing my heavy lifting for me on AAPL..those being the short 600 and 580weekly calls to go with 2014DITM leaps.. so a bit of a selloff is ok with me to keep that juicy premium... taking a small portion of the premium i took in from those and took some flyer positions one for an upside move, other for downside.

weekly 635/645/655 call butterfly for .70--- the 645 strike lines up with the all time high were many are expecting resistence..was going to do a 15wide but honesty screwed up the order and didnt double check. so if stock jumps into that box ill make some off the call flys and the weekly short calls get rolled to the august expiration.

weekly 550/565/580 put butterfly for 1.50 - gets to the area of where the options are pricing in a move...will be good opportunity to get into credit put spreads if it drops like that..and will likely let the weekly short calls expire at max profit or at least buy back on the cheap

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