Apple Inc (AAPL)

[roni]

Well folks, we are currently 54% AAPL shares and calls

Been making money hand over hand for the past month. Going to start moving back to a core level over the next couple of weeks. We have met our investment goals for 2007 and are just a little bit short of the target for 2008. Sanity requires some cash at least until right before the earnings report in July *grin*.

I am thinking of selling 3/4 of our Jan. 120 calls. If I can do that at today's close, it will lock in a 41% gain on calls I bought on May 17- and I will still hold 1/4 of the position. If that 1/4 goes to zero (highly doubtful), it would still be a 41% profit. If they have another up day or three before I sell them, it will be better.

If I then sell 45% of our shares that would still leave us with about about 25% AAPL shares and calls. That still sounds nuts to me, to some degree, but not as nut as 54% :).

May do it by setting some stop loss orders on those amounts of calls and shares. I hate to watch them at the day job.

Any thoughts from you'se guys?