Stock / Symbol: Apple Inc / AAPL
Option Strategy: [private_monthly]butterfly call spread[/private_monthly]
Trade entry date / price: Sep 9 / $507
Price at this post: $465
Reasoning: Wow, what a disappointing announcement from Apple. No new innovations, no bigger screen, and a way too expensive "cheaper" iPhone 5C that costs $549 in the US and a whopping $733 in China. With AAPL gapping down past our stop level, closing the trade here.
Closing Trade Details:[private_monthly]
STC 1 AAPL Oct13 500 call
BTC -2 AAPL Oct13 525 calls
STC 1 AAPL Oct13 550 call
for a min net credit of $1.90 per contract (day order, limit order). The mid is currently at 1.90
Requirements:
Cost/Proceeds $490
Total Requirements $490
Estimated Commission $6
[/private_monthly]
Max Risk: $490
Max Reward: $1,500 or 300% (at current volatility level) [private_monthly] at $525 by Oct 18
Profit Range: $505 to $545 by Oct 18
Suggested Downside stop: @ $489
Suggested Upside stop: @ $530
Realized Profit / Loss upon fill: ($295)
[/private_monthly]
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