-portfolio is positioned short and entered this to get long exposure to the market; i liked the way AAPL seemed to be setting up for a bounce
-bought 160C for $3.90 debit
-will look to either take profit quickly depending on whether market continues to explode higher
-or will look to sell a further OTM call to drastically reduce risk
2019-01-09 23:13:23
-sold 165C for $3.05 credit against this position to turn the position into call debit spread and reduce risk; max loss reduced from $780 down to $170
-with adjustment; max gain is capped at $830 if AAPL above $165 at expiry (position is 4.8R; 2.3R based on current profit)
update
-took this trade off on 1/11 as stock was beginning to roll over with lower highs and inability to hold above VWAP; overall weakness on the open
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-08 11:36:26 | MAR15 19 160 CALL | buy | $3.900 | long |
2019-01-09 10:10:06 | MAR15 19 165 CALL | sell | $3.050 | short |
2019-01-11 09:44:23 | MAR15 19 160 CALL | sell | $4.700 | 0 |
2019-01-11 09:45:30 | MAR15 19 165 CALL | buy | $3.150 | 0 |
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