Apple Inc (AAPL)

[Ticalc2007]

I am aware that $420 puts expire worthless unless it closes under $420, but he never SAID he was playing the weekly $420 puts, only that he was playing puts, and looking for a test of $420. So, I am simply stating that he was in fact correct, puts were the play to make for the week, and it did in fact test $420.

At the open on Monday (it was around $442), he may have purchased the weekly $425 puts for around $1.50-$1.60 (estimate based on yesterday's open of $425'ish and the $410 puts opening at $1.71, $15 out of the money) and been able to sell later in the day, when it dropped to $427.70, for $4-5. Did it hit $425 that day? No, but they still had value. Had he held to the test of $420, those puts would have been worth $5-6 on Friday. Not a bad return, if he played the $420 test in that way, right?

Since we don't know what he did, we must assume he did nothing, and simply take his directional call as such, a call of direction of movement (not a particular option play), as well as calling that $420 test. He was correct for a change, and I simply feel that it does no good to call him wrong, a clown, idiot, etc, in response to a message in regards to his call last week. It makes those who aren't constantly bashing the stock, making outrageous comments, etc, look like the trolls instead.