Apple FEB10 Strangle – Profit $400
January 7th, 2010, 11:38 am EST. Posted under Margin Portfolio (MP) by ThetaTrader.
Post Tags: , AAPL, CLOSED
195.40 (-0.80)
02/10/2010 – ThetaOptions Margin Portfolio – Apple Strangle CLOSED – Profit $400
The (MP) bought back the Apple FEB short PUT for 0.17 debit. This concludes our FEB strangle on Apple. Profit $400 in (4) weeks.
Filled Order:
BOT +1 AAPL 100 FEB 10 175 PUT @ .17 debit
Position: The July Strangle is intact & decaying away.
Profit Calc:
Sold 185/240 Strangle for $5 credit
Moved 240 to 250 for 0.38 debit
bought back 250 for 0.05 debit
sold 175 for 1.75 credit
bought back 185 for 2.15 credit
bought back175 for 0.17 debit
Profit: $5 – 0.38 – 0.05 + 1.75 – 2.15 – 0.17 = $400 Profit
Risk/Reward: $5500 max margin /$400 = 7% Profit. That’s not too bad.
January 25th, 2010 at 1:38 pm
01/25/2010 – Trade Adjustment
We’ve moved the FEB 240 short Call up (1) strike.
Filled Order:
BOT +1 VERTICAL AAPL 100 FEB 10 240/250 CALL @.38 debit
February 1st, 2010 at 3:25 pm
02/01/2010 – 3:24 Est
The FEB 250 short call was closed for 0.05 debit.
Our (2) Feb short PUTs are still open.