AAPL is at around $128.40 as I write this Blog. The stock is up about 16% for the year from the $110 level. The range over the last 6 weeks has been about 125-132. At this level, the stock is kind of in the middle of the range and I am looking at a relatively  delta neutral income trade. What Does Delta Neutral Mean? Not really leaning long or short deltas, no opinion. What does Income Trade mean? A Trade that is positive Theta, my short options decay quicker than my long options. Trade June 12 Expiration in the Calls ( about 29 days from expiration). Buy one 125 call, Sell two 128 calls, Buy one 131 call.  Total Debit .48 ( $48). This is an at-the-money call butterfly. I did it live 3-6-3 earlier today at .50,  3-6-3 at .49, and 3-6-3 at .48. That’s called scaling into a trade. I did the quantity 3-6-3 at three different price levels. Why? I was trying to see what price the market makers really wanted to trade this at. Mid Prices were .50 when I first started trading this, and I got filled pretty quickly. It was pretty easy to get filled near mid. Increase in […]