Apple And Dow, May 4th, 2016 Update

I checked Socrates yesterday evening for Apple. The pattern recognition is not positive on multiple time frames. I sold off my long calls and bought puts again. This market will be exhausting. I used the profits to add to my position in Apple. I am again fully hedged with Apple. I'll wait for Socrates to give the all clear of a low before buying back my hedge position.

Apple went ex-dividend today. Looking forward to the dividend, which I will use to add more shares.

Apple

Long Apple shares

Sold Jan '18 100 calls (IRA)

Short Jan '18 120 calls

Sold half Jan '18 110 calls

Bought Jan '18 95 puts

DIA

Long DIA shares

Bought Jan '17 178 puts

Analyst's Disclosure: I am/we are long AAPL, DIA.

Additional disclosure: I also am long and short options for AAPL and DIA, and due to the speed with options move, can change my position at any time. If I do, I will note it here after the fact.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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