Well, I'm out of my Jan 35 options. 250% return in a couple of months - not to bad. Guess I'm kind of morally obligated to buy an iMac now. Seriously I think we have a little more downside than upside at this point. The overall market has further weakness IMHO due to Asia and a wave of earnings pre-announcements I believe will hit the market in 3-4 weeks.
Good job, I just got out of my Oct 40 call options too, for a 100% gain in three weeks. I was kicking myself for not buying more when AAPL took a dip during that time and the Oct 40 calls were only 1 1/16. I kept telling myself I'd buy more if they hit an even 1, since my initial entry price was 2. Alas, they never did, at least not on the close. I probably should have put a limit order in at the time, but I thought AAPL might head slightly lower. After the brief dip, AAPL made a quick run upwards and the chance was gone. I'm not complaining though!
I agree with you on the Asian situation. The Clinton/Lewinsky saga is also a concern (not due to any actual, direct market effect it has, but the psychological effect could be devastating if things turn out badly for the pres). If this were any other time, I'd be buying more AAPL options and counting my profits, but the general market conditions worry me right now and I'm moving to an all cash position for the time being.
Good luck to those with the stones to play the short term AAPL options in this market! |
