AAPL
So with AAPL quickly hitting my max loss today there was no sense in closing the position. I will be waiting this one out hoping to catch a break unless the 260 call gets exercised against me. Options guru Paul has generously given me some ways to try and unwind this with less pain, but thanks to ONP's 10% run today I'm just going to lick my wounds and put the money into something I know better once I close it out.
ONP
"You down with ONP?" "Yea you know me!"
ONP made a huge 10% run today and 20+% run so far this month! I know some of you have taken profits and will look to ride this train next time it pulls back which would be wise to do since this one has been going on these 20% up and downs for months now. A better play would be to sell the 12.50 calls for $1.53 (bringing your cost basis down 14%!!) to lock in profits at this level and still have potential for another 15% in profits. So if you made 20+% like I have done this month on ONP you could set yourself up for a 50% gain if the stock goes to 12.50 and gets called away!
Thanks Naughty by Nature for the inspiration and Paul for the laugh today on the OPP take!
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