During that big whoosh down on Thursday, we took advantage of panic sell-off and bought May/July $260 call calendar for $8.50. With stock trading at $259 as of this writing. I am placing the following conditional order:
Buy to close May $260 calls and sell to open June $260 calls for 5 cents above the mark if and when the bid on AAPL stock is above $260 before May expiration during the normal market hours. If this order executes, I will communicate about the net credit received for doing this roll within the comment section below.
Good luck!
About Me
- Fahad Khalid
- Chicago, IL, United States
- I have Masters in Business (Accounting and Finance 2003) from Michigan State University. I have been trading the market since 1998. Prior to picking up trading as a full-time career in 2008, I was a management consultant at Alvarez & Marsal and Conway MacKenzie for four years. I provided turnaround, crisis management and restructuring services to financially distressed firms. Prior to working in turnaround, I worked in Audit & Assurance at Deloitte & Touche for two years. Trading in the market has always remained my side business ever since I started college. 90% of the time, I trade through options. I love volatility skews and positive Theta plays. While I make a lot of directional bets, in general my favorites are to take advantage of high implied volatilities through calendar or butterfly spreads and vertical credit spreads. I never buy straight calls or puts and I do a lot of exotic multi-leg option trades.
Visitor Locations
