Thursday, July 19, 2012

AAPL Butterfly update

AAPL looks fantastic, so good that with earnings closing in, my 600/620/640/butterfly may be set too low. AAPL over 611.62 (it is right there this AM), could, I repeat could be targeting the old high of 644.00. With that in mind I will take off the balance of the 600/620/640 fly and reposition with a 620/640/660 in Aug expiration, just after the opening. Again risking a new 1% of equity, so I will be taking profits and cash off the table.

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