AAPL earnings come out Tuesday after the close of trading. The last 4-5 quarters since the stock split, AAPL has seen dismal small moves between  2-5%. This has favored Iron Condor strategies, credit spreads, short strangles, calendars, and most other range bound strategies. This earnings may be different and might be more volatile. Why? 2 Reasons 1)  Stock is up over 10% from $120 to $132 in about 10 days. 2) NFLX , GOOGL, and other tech stocks have made bigger than normal moves. The range in AAPL over the last three months is also about $120 to a little over $134. Here are 2 potential trading ideas with AAPL at $132. Sell #1  Sell the August 121-125 put credit spread in the August 7 expiration for $70. I don’t think the stock will go back down under $125 over the next 2 weeks. This strategy will yield about 20 percent if held till expiration. The credit is $70 and the capital or risk capital would be $330. I would determine my size by how much I would be willing to lose if we had a huge move down. If I only wanted to risk about $300, I would do 1 contract. If […]