shorting AAPL Jan 355 calls at 1.70-.65 2X OVERSIZED

/s shorting AAPL Jan 355 calls at 1.70-.65 2X OVERSIZED. We have had huge profits on AAPL 340 monthly calls and the weeklies are up but now wish to create some protection by moving into a short on the less likely to be reached 355 jan calls. the premium is high on these but the risk is that we don’t get premium loss as much as we would due to the upcoming earnings. this is meant to serve only as protection of premium decay on sideways to downward action but if AAPL shows more strength we have a lot more riding on a bullish move than a bearish one so would quickly look to cover.

Posted in General Trading