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I continue to pull money off the table and hedge my positions. I had thought about selling Apple but I decided to hedge it instead.  


I've been telling you all for months that I was planning to sell my Apple at 140 so this is a little different because the premium was juicy. 

The breakeven on this trade is for Apple to hit $153.20 - if it remains under 145 before January about six months from now I pocket premium and reduce my cost basis in my LEAPS

Comments

Anonymous

Thank you dominicember

Anonymous

So you already own 100 shares or more of APPL and you bought leaps and now you think price will go down so you sold calls on the top? Am I assuming correctly you cannot sell calls if you dont own more than 100 shares of the stock?