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Apple: A Cautious Bull

May 09, 2016 10:39 AM ETAAPL, DIA
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Today, I have cleared out my long puts and short calls at 115. Apple has held firm on the 92.5 to 93 area. I have aggressively bought Jan 19 '18 110 calls to lower my average cost and to play any bounce back. I have also bought some Apple shares in my retirement account. I think a 5 to 7 dollar bounce is reasonable at this point. Price action is looking better today. I will sell some of the long calls after the move up to recover some of my losses (or potentially profits if we move up enough).

Apple & Reversals - Per Click Payment Structure of Socrates

Armstrong Economics

https://www.armstrongeconomics.com/products_services/socrates/apple-reversals-per-click-payment-structure-of-socrates/

Apple

Long Apple shares

Bought more Jan '18 110 calls (retirement and investment)

Short Jan '18 120 calls

Sold Jan '18 95 puts

DIA

Long DIA shares

Sold Jan '17 178 puts last week

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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