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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
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