December 1, 2020 - MDT Alert (AAPL)

I am going to suggest you close the long $118 December 1st call on Apple today.

Apple is up to $122.71, up $3.63 as I write this.

I know in this morning's update, I mentioned the objective is slightly higher, but because the expiration is this Friday, I would rather book the profit than run the risk of a move against the position.

As a result, here is the suggestion:

Sell to Close December 4th - $118.00 Call for $4.80

This will produce a profit of $1.87 per option, or $1,122 if you traded the suggested 6 lot.

The profit on this side of the spread works out to 64% or $1,122 in total if you traded the 6 lot.

The total profit on the original debit spread works out to $1,770 on a cost of $960, if you include the profit on the short call you should have bought back.

The overall return works out to 184%.

This was for less than a 2 week holding period

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