So, a few of you know that I prefer the deep out-of-the-money IC trades for a steady 10-15% month return. My latest trade has been with AAPL (Apple) with a condor leg of 300/310, 200/190. I cleaned up with a nice IV crush due to earnings and little movement in the underlying. I decided to roll my position out a couple of expiration dates. I'm curently holding 39 K's at 230/220 and 300/310, respectively, with a Sept. expiration. Theta is starting make a presence, and while the underlying has fluctuated, my position has been stable.
On another note, I just graduated from law school and took the Florida Bar Exam in July. My Fiance and I are taking a trip to Italy next month and I couldn't be happier.
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IC Trading on AAPL
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I decided to roll down my call leg from 300/310 to 270/280. While this does present some significant risk, I'm counting on AAPL to trade flat for a while and capture some theta/IV premium. I am bullish on AAPL in the intermediate to long term, and if the underlying gets too close to my call leg I can always roll it out a little further to mitigate any loss that I might otherwise incur.
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