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Delta Hedged Apple

|Includes: Apple Inc. (AAPL)

I mentioned on Friday I wanted to go ahead and delta hedge Apple. I was given a gift of good fortune with the announcement Berkshire Hathaway made an investment in Apple. This helped me sell my calls for more than I expected. I used the proceeds to buy puts spreads. The goal is to match Apple's move, hopefully dollar for dollar. It's definitely a hedged strategy and can be expensive if the stock goes up. I am thinking Apple will continue going down at the moment. I don't plan to change until Socrates says otherwise on the monthly, quarterly, and yearly time frames.

Current positions

Long Apple and DIA

Long Oct '16 90 Puts

Short Oct '16 80 Puts

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

Additional disclosure: As mentioned, I am buying and selling options. I will adjust my positions as needed due to the speed with which options change in value.