It won't be my first loss, nor surely my last. Batting .666 so far this year with AAPL, having hit the + column with 2 spreads I closed back in March - so can't really complain. As to "Last Hopes" (Greece's "Yesterday's News" is now being sold - Futures are quite RED!), think I'll hold the Spread until Thursday. Might be a good idea to see how the Market reacts to the Fed Meeting....
Closed out the AAPL July 620/615 Bull Put Spread today for a Loss, with 30 days left until Expiration, at AAPL 583.00. Now on to my AAPL August 645/650/600/595 Iron Condor. Will AAPL close between 600-645 on August 17th?
Now I'm curious whether AAPL will indeed show the sharp drop hinted at 2 months ago, after topping at 620. SPX seems to have topped at 1380 as predicted; it isn't entirely clear where the next bottom will be (below 1300 I think).
We'll know a lot more after earnings are announced tomorrow. If they're good enough, AAPL could act independently of the $SPX and go north even if the rest of the market goes south. My bet is still on north for AAPL, with the August 600/595 Bull Put Spread I opened in March. Meanwhile - waiting, watching, and hoping....
I'm thinking about selling some call spreads before earnings tomarrow. I just think they might fall short with the new iphone coming out later this year. I sold 70 GOOG $615-$620 before last earnings report on thursday, short a little MSFT too, held my GOOG into the close friday and almost shit my pants that day lol. So I don't know if I'm going to pull the trigger but anyone looking at selling any butterflys or just selling aug credit spreads.
Short term, what will happen after the Earnings Announcement tomorrow is probably a coin toss. But long term AAPL goes up around 90% of the time after Announcements, and that's a killer 3 year uptrend. Since it peaked at 644.00 it's also built a nice Cup With Handle Base Pattern (for all you IBD fans out there), looking like an ideal Break Out set up. So all things considered I'd say: Watch out if you short this puppy!