With apples big news about its new operating system I went long on some 190 calls. I place a good till canceled order yesterday for 3.80. I figured that was a fair price, that if meet I would make some nice gains. Well late yesterday my order was filled at 3.80. This morning Apple opened up, then took a Little pull back then took off. The market finally found out that apple has sold over 2 million copies of its new OS since being released on Friday the 26th!!!!
I thought about holding this position open for a while, but I didn't really want to keep it open during the FED meetings (today 30th and tomorrow 31st). The FED gets investors so spooked over one little thing, and the market takes a dive. So I decided to sell my calls today around 11 ish am. What I am thinking is that the FED will indeed cut the rates, but will say something that will spook the market. Apple along with all the other big cap stocks will pull back some. That's when I will get back in! When the dust settles and everyone is happy about the rate cut, stocks will rally again......
This trade made a 32% profit!!! (in one day)
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