Thursday, July 19, 2012
New trade AAPL Aug 620/640/660 Butterfly
The AAPL butterfly was rolled out and up this morning into the Aug 620/640/660 call fly for a 1.89 debit 4x8x4. Maximum risk is the $189 paid for the butterfly x 4 fly's = $756. Losses occur below 621.89 and above 658.11. Max loss occurs below 620 and above 660. Max gains of $7244 occur at the short strike of 640. All P-L assumptions are at Aug expiration. Risk Reward for the trade is 9.58 to 1.
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I have been enjoying your blog. I am putting on a similar trade. 620-630-640 Butterfly for July Expiration. I am using the 550 Putt to finance the spread. As I would like to own AAPL at 550, and 550 is about 9% out of the money.
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