Around 11:30 central today, AAPL was at 199.66 -7.82 for the day. Friday was down pretty good also because of earnings. Today, I took a neutral to Bullish long term stance with AAPL and did a put credit spread instead of a very expensive cash secured put ( simply a short put). I sold the Nov 23 190 Puts and didn’t like the high margins of a short put, so I bought a 180 Put against it. I did the credit spread for 1.60 credit. A little less than 3 hours later, I bought back the spread for 1.16 Debit with AAPL near 201.5 at 2:17 pm central, a return of over 5%. My plan was to take 10%, that would mean buying back the spread for .80 Debit. But my impulsiveness had a hard time turning down over 5% in less than 3 hours!
/wp-content/uploads/2015/04/logo_svg_full_name_white.png 0 0 Dan Sheridan /wp-content/uploads/2015/04/logo_svg_full_name_white.png Dan Sheridan2018-11-05 21:57:102018-11-05 21:57:10AAPL Cash Secured Put Alternative