Monday, September 10, 2012

Closing - $AAPL entry and strategy for rest of SEP

21 sep - the Sep620/625's will expire today at max profit, took profits previously at .19 for the Sep630/645's..these credit spreads paid for the bull call spread, the Sep 680/690..which i took profits too soon expecting a pullback..closed that at 6.40. nevertheless..all three were profitable


10sep - finally got back into some $AAPL credit put spreads again today with the down 8 morning. missed a few other entries by getting no fills because of AON orders. no technical trigger to enter today except stock finally had decent intra day pullback to juice the put premiums a bit. wanted to get into a position ahead of the apple event.

Sold to open Sep630/635 credit put spreads at .52 - 88%probability of max profit
Sold to open Sep620/625 credit put spreads at .30 - 93%probability of max profit

the 50day moving average is rising quickly and will be at 635 in a few days, so i wanted to be under that level, also the old resistence becomes support level from 640ish..wanted to be under that.

Current positioning: still have those diagonals with way ITM short calls, been holding them in case of some type of selloff, will hold at least till after the apple event. if a selloff hits will look to roll up a few strikes to OCT. if not then will still roll up in Oct but will need to pay a bit to gain $10-$15 in strike levels, but will give me good levels to shoot against for Oct credit put spreads.
- picked up Sep680/690 call spread last week to position for bullish movement off of event, mentally used todays credit put spreads to pay for it.
- have a few Sep 670/660/650 cheap put flys as well

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