Thursday, November 22, 2012

$AAPL credit call spreads

in hindsight it looks like the support level from a few months ago held on a closing basis.. .the level everyone was looking at. had that big up day after tagging that support line and i sold some 600/605 DEC call credit spreads. didnt get in near the high of the day, would have been some juicy premium if i would have hit that but not much time to get away to drive to a hotspot since the trademonster iphone app is dogshit. regardless, i picked the 600 level to be above the 200day moving average which is rising slightly.. at time of entry the probability of max profit was 85% i believe.. my hedge is my 2014 and 2015 Leaps.. so even if the stock continues to rally up to 605 its ok..will still be a net gain plus will be a good sentiment shift going forward.. if stock pulls back some i will possibly look to add credit put spreads to condor this position.. will keep strikes definately below the 520ish support line but likely below the low of the day from few days ago..506 i think it was.

1 comment:

  1. I'm learning a lot about option trading reading your blog. Thanks Mark. Giao dich Option