In after hours, I wanted to close at 404. By the time I placed the order it went down. I kept moving the order down, but she moved faster than me. I could not take it anymore, and placed an order below the market to get out. I do not see why AAPL would go above 410? If someone sees why, could you share?
Im all out, quote from forest gump movie... Forrest Gump: Lieutenant Dan got me invested in some kind of fruit company. So then I got a call from him, saying we don't have to worry about money no more. And I said, that's good! One less thing. Forrest Gump referring to Apple Computer
Well it looks like AAPL earnings was a non-event this time around, up only 2.7%. The QQQ strangle is down $20.00 and I will close it on Thursday or Friday.
Are you trying to lose money? Not that it's a big position at all, but I thought we were talking about the 57 put, which guaranteed won't hit, and right now, you are out the money on both options in the strangle.....though I would bet down, the 58 put might work by the 22nd. Call probably not, and you still need at least a half percent below 58 to make anything.
POSITION CLOSED QQQ @ $59.49 Sold the QQQ Jul 2011 59.00 Call @ $0.49 http://finance.yahoo.com/q?s=QQQ110722C00059000 QQQ Jul 2011 58.00 Put will expire worthless P/L: -$13.00 / -22% Comparing it to an AAPL 375P / 380C earnings strangle, the AAPL strangle would have lost about 35% (buy at $16.90 sell at $11.00).