Apple 90P Calendar @4.44 closed (+4%)

3/27

I exited the 90P calendar for $4.36 (+4%).  AAPL has been too bullish and the position hasn't really worked since the trade was put on. I decided not to take any more risk on the upside, so I exited the trade. Given how badly the trade turned againist my bearish bias, its not a bad trade with a small gain, instead of a loss.

3/18

BOT +1 CALENDAR AAPL 100 JUL 09/APR 09 90 PUT @4.44 ISE, AAPL MARK 102.45,

I entered in a Bearish 100 Put calendar.

Reason for Entry: AAPL has rallied straight from 82 to over 100 (+21.9%) in a little more than a week. I'm expected a pull back.

Risk Management: Break Evens (80,103) Exit if close above 105. 

Profit goal exit if reaches 93 and exit if close above 105.

Stock Chart




Risk graph