Stock / Symbol: Apple Inc / AAPL
Option Strategy: [private_monthly]diagonal call spread[/private_monthly]
Trade entry date / price: Jan 23 / $555
Price at trade post: $527
Current Position: [private_monthly]
Long 2 AAPL 10(Mini) Jan15 525 calls
Short -1 AAPL 10(Mini) Feb14 530 call
at a net cost of $48.65 per mini contract
[/private_monthly]
Adjustment: Rolling the short call to one expiring in 2 weeks. Doing so now yields us about 90% of the call premium collected on the call expiring today. The closer we get to today's close, the closer we'll get to realizing 100% of the call premium.
Update for those who entered the trade on Jan 29: Hopefully you stopped yourself out at the suggested 540 level. If not, not worries, you can still close out here for a 33% gain in 3 weeks!!! Book that win here.
Trade Adjustment Details:[private_monthly]
BTC -1 AAPL 10(Mini) Feb14 530 call
STO -1 AAPL 10(Mini) MarWk1 530 call
for a min net credit of $5.75 per contract (day order, limit order). The mid is currently at 6.50. You should be able to get filled within a penny or 2 of the mid.
[/private_monthly]
Max Risk: $910 (reduced from $980)
Max Reward: unlimited over $562 by Mar 7
Profit Range: $562+ by Mar 7
Suggested Downside stop: @ $519
Suggested Upside stop: NA
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