Monday, July 23, 2012

some thoughts on $AAPL

the day before earnings here is what im thinking about apple.. most are on the long side of the boat as usual with some conversations about slower iphone sales because of iphone 5 rollout next quarter.. ive already got diagonal spreads with weekly 590 and 600 short calls.. i will also look at a cheap long trade later on but im ok if stock trades flat or down some in order to collect that juicy weekly premium from the short calls.. im thinking that if apple either misses or is inline either because of slower sales or Europe weekness, the spinmiesters on cnbc will play it up that iphone 5/new ipad/apple tv is coming next quarter so any pullback will be buying im not concerned if stock does indeed selloff a bit for the week before calmer heads prevail and stock apple is so good at managing the news flow.
   so not a large trade but just something to get a few more bucks if it sells off for the week.. im looking at the 550/565/580 put fly.. the day prior weekly options still pricing in about 32-33 point move.. i always assume the options market has it priced pretty much on that gets it down to about 565.. that also lines up with some support and also pretty close to the bottom bollinger band

so if youve been following you know i like diagonal spreads..but you dont have to just sit there and hope for premium can take low premium tactical trades to further protect downside moves.
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