#LongCallDiagonals #SyntheticStock -Yesterday…been waiting for some sort of a pullback to get in this long term Whiz style. With the 2020 Leaps now available and the stock dropping a little I put on a starter position at one third size. Hoping to get some chances to add…possibly closer to the 200ma.

Bought to Open AAPL JAN 17 2020 155.0 strike #SyntheticStock (buy the calls and sell the puts)
Bought to Open AAPL JAN 17 2020 145.0 Put for disasters (I would take put profits and add to the long position)

Net debit of 19.20 for the Jan 2020 position.

Sold AAPL OCT 6 2017 155.0 Calls @ .95

With 120 weeks to run only need to sell .16 per week to cover the cost. Any more than that goes to the bottom line even if AAPL goes nowhere. Worse case scenario would be they discover iPhones cause cancer and the stock goes to zero. Max loss at that point would be 29.20. To offset that scenario a weekly sale of .24 will be needed.

Edited for clarity of synthetic stock…