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Newly2b

01/18/11 7:49 PM

#68749 RE: smagli #68746

Well, you see, it's like this, smags. I put in a cover order to sell half @4.85 right after the last 4.80 trade, but it jumped me and went to 4.95 and never came back. With 2 mins to close I decided to just hold. My thinking was that since AAPL always aces earnings, and I had some margin for error since the trade was already nice and green, I likely wouldn't lose more than the gain I hadn't taken off the table yet, so I'm still holding the whole position. Looks like my reasoning was sound, but I'll probably cover the entire position early tomorrow as I suspect it is going to be a down day for AAPL though I could be wrong, of course. I'll play it by ear. If I do the cover on the Puts I'll probably also short the Call at the same time. Sort of the old Zeev switcheroo. . .

Newly