Buy AAPL via selling vertical spread
Buy May 535 puts AAPL @604.5
Sell May 545 puts for net credit
Apple drifting lower, 555 was the low on the day before earnings, so I see that as significant support. My thinking is similar to the AMZN trade earlier today, but I wanted to wait until a down day for Apple before doing it. A vertical helps with the margin requirement and limits max downside. Trade off is a smaller potential profit than selling puts naked.
Elsewhere, the rally in IWM Russell 2000 ETF has flipped my position to net short.
Long AMGN BRKB LGF MMM TLT
Net long AAPL AMZN GLD SPY
Net short IWM
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