SOM TV Trades from Tuesday Jul 31
AAPL Iron Condor for Earnings in the Aug 3 Expiration S 1 Aug 3 200 C, B 1 Aug 3 205 C, S 1 Aug 3 180 P, B 1 Aug 3 175 P, 1.06 Credit With AAPL + 8.61 at 198.90 , the Iron Condor is trading at .99, we are up a small bit. We are about 7 points from the short call strike of 200 with today, Thursday , and Friday till this trade expires. The position Greeks for 1 contract are -32 Deltas short and 15 Theta and -4 Vega. The high today is 199.26. If we break 200, the short strike, I would adjust the trade by buying the 190/195 Call spread to narrow the width of the call side 5 points and reduce the short deltas. Bottom Line: Earnings are out , we are up a small amount of money and have a plan if the short strike is threatened. AAPL Bearish Butterfly for Earnings in the Aug 10 Expiration B 1 195 P, S 2 185 P, B 1 175 P, 2.60 Debit. With AAPL up 8.61 at 198.60, we were wrong on this speculative Butterfly and sold it out today for 1.29 […]