Short term
Trade view / 27 April 2016 at 12:03 GMT

#SaxoStrats. UPDATE: Taking profit from Apple put

Head of Equity Strategy / Saxo Bank
Instrument: AAPL:xnas
Price target:
Market price:
Saxo Strats banner

In anticipation of Apple's fiscal second-quarter results, we introduced an options strategy on Tuesday to take protection with a long Apple put. After Apple surprised the market with weaker-than-expected results and downgraded its third-quarter revenue guidance, the stock (AAPL:xnas) fell sharply, and this strategy with the June 17 put (AAPL/17M16P105:xcbf) has paid off well.


We are closing the position when the US cash equity market opens. We will close it through a limit order, which is best way to protect your execution in the US equity options market.

The current price on the option pre-market is around $10 – so the gain is around 150%.

There is no pre-market trading so this the estimated fair value based on option models .

— Edited by John Acher

Non-independent investment research disclaimer applies. Read more
The first relevant gain in months. Well done!
The next shoe to drop could be Daimler if Doj and Epa discover something wrong!


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