atticus' single-name delta book

When does it start to feel like capitulation?

 

my aapl position is as follows:

Long Dec Jan 500 putspread.
Short Jan 490 puts

4 putspreads to 1 490 put.

 

so far 500 defended, there were some sub 500 prints pre market.
with 50% front month vol, aapl trades 250 or 750 on a binary event a year out. I would bet on 750 gun to my head.

 

Spread at 13, holding.

 

get Jim Rogers on the phone.....deep pockets would help there.

 

I'd rather call Buffett! He loves to play vola. 30/100 or so.

 

Out 13.50 (70 mid) as I'd like to see where we close. May end up in it again, but will go with the put fly if so.

 

Out 55.10 (55.40 mid) as I plan to get neutral to 710.

 

Yeah I was looking to do the same as it's getting away from me.

 

Who knew it would flip modality that quickly. Still a nice sale of distro, IMO. I will go with the 715 if we're over 718 near the close. I'd like to see a touch of 720 before pulling the trigger.