Sell AAPL Jul 185 calls for virtually a total loss (-95%)
Earnings are good, but guidance is disappointing, and the company says that Steve Jobs' health is a private matter. AAPL opens about 10% lower. I dump my calls for almost a total loss. This is the biggest dollar loser of they year for me. There are no guarantees buying ahead of earnings. I took my shot, going for the home run and struck out. Still, I am "glad" I bought calls rather than my usual of selling puts. When a stock gaps down, being short puts is scary and can wipe out a good portion of one's account.
Positions: long BUD
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