Just took off AAPL Butterfly from last week!

monarch butterfly isolated on white backgroundLast Tuesday June 23, we bought a live AAPL Butterfly on Sheridan TV  . We bought the July 123-127-131  Call Butterfly for around $1.22 debit. If anyone is in the trade still, today is where I took some of the trade off at $1.35 credit a few minutes ago. That’s about a 12% profit in 1 week! We discussed the trade  on Sheridan TV yesterday and what our game plan was. If you missed the show, you can go to www.sheridantv.com to watch the recording. Our short strike of the butterfly was 127 and with AAPL around $126.35 as I write this blog, we are approaching the 127 sweet spot. The other factor that has contributed to profits on this trade over the last 2 days is the implied volatility in AAPL decreasing. Implied Volatility in AAPL in the July expiration was 22 at end of big down day Monday, and today with AAPL increasing in price over the last 2 days, Implied Volatility in the July expiration has decreased to the 18 level. This decrease in Implied Volatility really helped the profits over the last 2 days. Make sure to join us every Tuesday and Thursday at 1pm CT. for live trades and updates, only at SheridanTV.com

1 reply
  1. Michael Allums
    Michael Allums says:

    But that’s a four-legged trade, so say you’re paying 1.50 a leg, then you paid $12 in fees (round trip) from the $13 you made, making your actual earnings $1 per contract. Or am I missing something?


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