I think the October and January call options are good; it's my Sept about which I'm so worried. Monday promises to be a strong upward bias to the market. If Apple joins, perhaps Sept options will be okay.
I was thinking about your situation today, and I have some advice for whatever it's worth. If you notice AAPL's trading patterns, it almost never pays to buy out-of-the-money call options expiring in the month before earnings announcements if you purchased them after the previous earnings period. June showed similar treatment to holders of AAPL calls.
IMHO, you'd be better off buying AAPL calls expiring in the month earnings are announced, or the one immediately after if available. Sure, the prices are higher and your profits may be less, but you incur much less risk. Right now, the best call option contracts I see are the January 1999 ones. Price isn't too high, and you've got plenty of time to play with them.
As an aside, didn't some December AAPL options contracts trade a few months ago? What happened to them? I haven't seem them listed in quite awhile... |
