Friday, September 11, 2009

September 11 - Update on GOOG and AAPL trades

Since the initiation of both short positions, the stocks experienced a pull back and continued towards their previous high. However, the Call options that were sold on August 27th have lost more value and indicate a profit.

GOOG DEC 590 calls currently trade at $1.35/share and the AAPL OCT 200 calls trade at $0.40/share. They have both essentially halved in value since as the both stocks have lost quite a bit of steam to the upside.

I am on trade and do not want to keep these positions around earnings as volatility could introduce large moves. Depending on what happens between now and late October when they report, I will look to close out these positions. Right now I have them on close watch.

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