Tuesday, August 23, 2011

Trading: Aug 23, 2011 Bought 100 AAPL

Bought 100 AAPL at 356.50 yesterday. I didn't think Apple will go much lower than that and felt it was a reasonable price. I had wanted to buy AAPL friday after a number of down days, and I thought I missed my entry. Luckily, AAPL came back down to let me buy it at a lower price. Looks like it was right on the money. Currently at 373.

I was short a 345 put for Aug 26th 2011 and short a 350 put for Aug 26th 2011. I've collected more than 90% of the premiums on them already, and decided to buy 2 of the 345 puts. This closes out one position and turns the other into a bullish put spread, lowering my exposure.

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