AAPL Earnings this Tuesday - 580/600/620 Weekly Butterfly only $3.50

Risked $295 to make $5. Sweet.

 

so based on your criticism .. you have some wonderfully better trade on?

 

Have been short bulk 2013 for more than one year.

Sold Aug 575p $15 vs 578.80 today. Covered 2/3rds via straddle @ 26.55-27.00 Will ride the balance.

 

I lost 70-80 dollars on spreads cumulatively. The credit spread I bought back at a profit and the butterfly was a wash.. I trade two accounts.. not a big deal both average to a good risk reward. Sometimes you lose..

 

That's not clear. Short premium? Short as far as direction? Your long a straddle covering your short put? I haven't figured out how to play earnings. So I keep my bets really small and limit my risk

 

Not clear to me. Sorry not trying to be a d6ick

 

Homeboys 580-600-620 fly is about to go in the money

 

AAPL @ 579.23
P/L $44.00

 

Yes, 2013 is short premium, bias long delta and short put skew. This requires significant capital. The Aug trade was a synthetic straddle closed out by an actual straddle. Leaves one in a reversal.

 

Not bad not bad!