Ranchrfl

Apple Credit Spreads: Targeting 500% Return

I am a Mac-fanatic since 1984, bought 2,000 shares AAPL at $15 pre-split rode it up to $204 down to $117 and back up over $180 and at $170 sold half and bought among other things 4,500 shares BAC at $20 and $21. Monday I sold another 1,000 APPL at $139 and change, bought 4,500 BAC at $28 and change. Today BAC is $36 and change and AAPL is $142 and change. My remaining 1,000 shares of APPL are up 6.15% and my BAC is up 19.39%.

I will sell BAC as soon as it looks like on a percentage basis AAPL will run faster than BAC and buy back AAPL but the $3,000 of AAPL it cost me between Monday and today is $35,000 you do the math:)