01.05.09
Another AAPL spread
I just closed my third spread on AAPL today for a nice profit. I opened a February 90/95 Call Spread with 2 contracts on December 23rd for $413.00. My presumption was that AAPL would rise moderately going into MacWorld and Q2 earnings. After the unexpected pop from Steve Jobs’ press release today, I closed the position for $536.99 after commissions. The profit was $123.99 or 30 percent in 13 days.
So far, I’ve made a profit of $218.00 on a capital investment of $821.00 over a period of about 70 days. My current overall annualized return is just over 241%.