Option Investor

January Positions

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We were able to pick up the remaining contracts of our WYNN position on Friday. WYNN is down along with the market this morning. We are still looking for INTC to dip to fill its gap at $13.35 before finishing the position. AAPL is showing signs of weakness but is still above the stop point of $79.14. There is a gap to be filled at $84.12. Once that is done, I expect the weakness to subside. We are still profitable on the position. If you are risk averse close out the put and wait until the gap is filled to re-enter. Or we can sell the January 100 Call to hedge for $1.00.

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