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

Discussion in 'Options' started by diaoptions, Jul 22, 2012.

  1. another small test of the "cat" (two OTM butterflies) as an earning play, with weeklies. on AMNZ, 200/205/210 and a 220/225/230. idea being to capture the implied market move, whichever way, as it comes back in the next day, and one of the flies should now be ITM or near.

    worked with aapl yesterday/today, figured why not try it again. general goal is to scale out the next day to nab a few free ITM flies, going into opex after the earning move/crush.

    though, if it had been purely direction play, that 580/585/590 AAPL weekly fly would have been a fair move, saw the mid on them go over $1 today, traded around .20-.50 before earnings.
    #61     Jul 25, 2012
  2. ahh most people that are demeaing or insulting are miserable.. i know i'm an assh0-le.. haha kidding..
    #62     Jul 25, 2012
  3. noting that "super fly" of jan13 400/600/800 now at 114, nice.

    the 580/585/590 weekly fly picked up for .20 (was part of a paired play for earning/opex.) traded .50-1.00 after earnings, went out at 4.67 today. $100 would have been about $2,300.

    do i wish i held at least one till the end,... yes,.. did i? no. dropped the ball today dumping the last couple in the low $2s as AAPL wavered @ $582. made up for the muffed FB and AMZN flies (all worthless, could have traded some of them break even / positive briefly, but let the $100 slide away.)

    flat, but wiser, on this weeks experiment with dual weekly flies for earnings/opex.

    #63     Jul 27, 2012
  4. You were in the tiny fly? Nice move. But I think the 10x was plenty. Next time you'll hold a few more.
    #64     Jul 27, 2012
  5. I did not know what to say for this day.

    I used the simplest strategy, buy OTM call or OTM put.

    once tried buy a call and put at the same strike, but feel odd, why keep neutral, never tried butterfly

    aapl today way performed my other plays, my other takes are VHC, expe, not so much.
    #65     Jul 27, 2012
  6. WTF, really? Congrats!
    #66     Jul 27, 2012
  7. damn i'm jealous! haha
    #67     Jul 28, 2012