/s shorting $AAPL 390 weekly calls and puts iron condor straddle $AAPL 390 calls at 1.74-1.60 trough $AAPL 395 at.08 and $AAPL 390 puts at .73-.69 trough $AAPL 385 at .04 . ok we are betting on the possibility of AAPL finding 390 as the final magnet into todays expiration. The long legs on 395 and 385 since they are so cheap I chose to make them twice the contract amounts. this way of we were to get a big spike or fall then the long leg that is now so cheap could offset the loss on the short. Another rulle I have is to take a loss on the short if it was to gain 150% premium, remember 100% of that is hedged by the opposite side hedge and if the movement becomes continued then there is that larger contract amount on the long leg that can help our us back in a profit picture. Also what I do on day of expiery I get in on the calls short when the stock is above the strike and I get in on the puts short when the stock is bellow the strike and therefore entering can take some time. In other words this is a iron condor straddle off balanced with oversized entries on both spreads making the contract amount much less on the calls than puts, because we entered the calls short at a higher premium than the puts short. so thats 2x oversized bet on 390 magnet today expiery. I mentioned this play earlier today when first entering but now that have entered both sides am sending out this more detailed expiration.
shorting $AAPL 390 weekly calls and puts iron condor straddle $AAPL 390 calls at 1.74-1.60 trough $AAPL 395 at.08 and $AAPL 390 puts at .73-.69 trough $AAPL 385 at .04
Posted in General Trading