AAPL $512.90 with their shareholder meeting on going and clear indication that the company is not ready to make a decision on their cash, I think there is a good possibility that fast money in the name of late could take some profits.
Maybe, just maybe the stock acts the way it has a tendency to do after product announcements and sells off on the news.
Update at 2:15: averaged in a bit here, doubled up at 1.80 so my average is about 2.00
TRADE AAPL $512.90 Bought the Feb24th weekly 510/500 Put Spread for 2.15
-Bought 1 Feb24th 510 Put for 2.75
-Sold 1 Feb24th 500 Put at .60
Break-Even on Tomorrow’s close:
Profits btwn 507.85 and 500 make up to 7.85, with max gain of 7.85 stock 500 or below
Losses of up to 2.15 btwn 507.85 and 510 and max loss of 2.15 510 or higher.
The stock is obviously already down a bit from the morning’s highs as people are taking profits….so i want to define my risk and avoid a snap-back
[caption id="attachment_9025" align="aligncenter" width="300" caption="1 day AAPL chart from Bloomberg"]
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