Monday, January 08, 2007


Seems like forever ago that I opened up my "run to Macworld" trade. AAPL has done a lot of moving in both directions but ended up today around $86. I closed out the bulk of my position this morning with a nice profit. I set up a 95/100 Jan bull spread in case there is a phone tomorrow. I think the downside is limited. The upside could be $8-10, since estimates don't include a phone at all.

Jobs' keynote is at 9am, so stay tuned. Either way I will close out the position and re-enter next week ahead of earnings.

Then a much deserved break from owning Apple options!

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