Option Millionaires

[leemalone2k3]

Why you need to be in the OM live chat room. Spend a little money, lower your risk and still make multibaggers.

For a little over a week I have been talking about AAPL fading due to some basic technicals on a daily chart.
Here's my setup
3/5/8 ema
50ema
50sma
200sma

I noticed on 6/29 when appl fell through the 50 ema and sma and mentioned to keep an eye on it for conffirmation of that breakdown. If it held, I thought it might fall down to the 200 sma(just below 120.00) in a week or so.
On 7/6 I legged into this trade
Buy 10 124wp .39 -390.00
Sell short 10 123 wp .28 +280.00
This spread cost 110.00
The next day, I sold the spread for .49 0r 490.00

7/7
Buy 20 122p .17 -340.00
7/8
Sell 20 120wp .21 +410
This trade paid me a credit of 70.00. If I held these until expiration I would make 70.00 if AAPL is above 122 and 2070.00 if below 120
7/9
Sell 10 122/120 put spread at .41 +410.00
Sell 10 122/120 put spread at 1.40 +1400.00

When AAPL got below 120.00 today took a bullish stance.
ER position:
BUY 5 July week 4 120C 3.88 -1940.00
Sell short 5 week 4 121c 3.35 +1675.00
This trade cost me -265.00
The max profit on this is 470.00 if AAPL is above 121 in two weeks.

Buy 10 120wc .51 -510.00
Sell 10 121wc .20 +200.00
This trade cost me 310.00
If AAPL closes above 121 tomorrow the profit will be 690.00