Option Investor

December Option Position

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Apple, Inc. (AAPL)has begun to find some support and has broken above the downtrend line I drew on the chart from Sunday. We originally sold the December 75 Puts with an initial target of $1.50 or more per contract. Since the stock gapped lower on Monday, you may have been able to get a better fill. The purpose of this alert is to suggest covering the 75 Put and selling the 80 Put. The net credit for this spread is about $0.80.

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