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JaiH
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JaiH's Blog : MightyMo, what is your target for AAPL jan 2013

Date February 5, 2012    Comments Comments (3)    Rate this post Recommend This Post (14)   
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Free Options Trader Guide

I sold some AAPL calls 600 strike jan 2013. I don't want my shares to be taken away, so I am wondering if I should buy them back, What do you think,

Tags : AAPL  

3 Comment(s):

Author MightyMo     Date February 5, 2012 23:47  Edited: February 5, 2012 by MightyMo Abuse this post Report Abuse
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Without knowning your cost basis, I don't know if closing your option position would be a gain, breakeven, minor loss, major loss. Based on AAPL 's gains in Jan of 09 to jan 2010 to jan 2011 to jan 2012, it's certainly within the realm of appl hitting 600 by Jan 2013, especially if the overall market is better this year than last year. Given that, if it was me, all things equal, I would consider holding off until mid-year and it AAPL continues to gain in share price, I would consider a roll-over - closing the Jan 2013 option and writing a call, let's say on the 650 Feb or Mar 2013 assuming those options are available at that time. That should give you a breakeven on the option play.
Author JaiH     Date February 6, 2012 09:54 Abuse this post Report Abuse
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I bought them back, made a small profit on the dip. Steve thinks AAPL to headed to 700, so why risk writing calls.
Author JaiH     Date February 6, 2012 12:00 Abuse this post Report Abuse
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I was lucky to get a fill, while the stock was down. AAPL is rocking now.
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