Jeff 12:51 pm on Tuesday, April 26, 2016
Tags: Earnings ( 3,109 )

AAPL iron butterfly

#Earnings Your typical ATM play, with 3 days to work if AAPL bounces around until Friday.
Sold to Open 100/104/108 iron butterflies for 3.22… risking .78 to make 3.22.

Ramie 12:56 pm on Tuesday, April 26, 2016

What the hell…joining you here with a small position. Craving some action!

Sold $AAPL Apr 29 100/104/108 iron butterflies for 3.26.

#Earnings
- Bobbie 1:00 pm on Tuesday, April 26, 2016
  
  I’m joining you also, Jeff. Hope it works.
  
  Sold Apr29 100/104/108 for 3.27 cr
mortlightman 12:59 pm on Tuesday, April 26, 2016

Followed you on this
Bobbie 5:28 am on Wednesday, April 27, 2016

Jeff – since I don’t usually sell butterflies, Please tell how you manage this fly. Thanks!
- Bobbie 5:37 am on Wednesday, April 27, 2016
  
  sorry, I know this is an iron fly.
- Jeff 5:51 am on Wednesday, April 27, 2016
  
  Wait for a recovery back above 100…. assuming that doesn’t happen, you can do nothing since it is a loser. Your broker will exercise you out of the puts on Friday. Exercise will cost you 4.00, which means your loss is .73. IF your broker charges an exercise fee that is higher than trade commission, then you should exit the put spread for 4.00 or less before Friday’s close.
  - Bobbie 6:18 am on Wednesday, April 27, 2016
    
    Thanks, Jeff
    - Jeff 6:22 am on Wednesday, April 27, 2016
      
      Bouncing options prices may allow you to get out of the put spread for 3.90 or lower. I am trying 3.70 at the open (on just one spread… saving the others)
      - Jeff 6:30 am on Wednesday, April 27, 2016
        
        Got it for 3.70
        
        Bobbie 6:52 am on Thursday, April 28, 2016
        
        got it for 3.90

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