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Wednesday, July 24, 2013

Closed AAPL Calls and QQQ calls from Monday and yesterday

After yesterday's AAPL "Leak" post, I figured I'd post the follow up to the AAPL calls opened Monday and QQQ calls opened yesterday.

From today's closed positions at

Wolf on Wall Street

AAPL and QQQ Closed Position P/L

From what I see, taking those gains early was absolutely the right thing to do. For newer members, we have all kinds of different traders with different styles, I'm not particularly fond of leverage/options, but when I see something that looks very good and either doesn't have enough profit potential to take the risk (like in a volatile choppy market) or I want to capture what I think will be a big volatility move, then options are often the right tool, but I'm almost always looking to get out of them as fast as possible, not to hold them and see if I can do better, there's always another trade.

In the case of the Q's and AAPL, the opening exuberance caused by retail gave me a good momentum/volatility exit.

In any case, here's the P/L for both, the  AAPL fill was broken in two with a pretty decent difference in the fills.

The average fill for the AAPL calls was $14.31 for a gain of +30.6%

The QQQ position was a proxy for an AAPL add to (Monday for AAPL/Tues. for QQQ) as implied volatility right before earnings would have made the AAPL calls more difficult to make money with.

The QQQ position at the $1.51 fill came out to a 1/2 day gain of  +16.15%

Brandt Uses Worden's TeleChart and StockFinder 5 Exclusively

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