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January 11th, 2012 at 9:22 am
Phil and members/ Phil, I said I'd get back with you on your comment yesterday which, paraphrased, was that "they may try to take AAPL down pre-earnings–be careful" You may be right, so what I'm going to do comes under the heading of "When in doubt, sell half" I'm going to reduce our short term AAPL 50k exposure AND establish more downside protection by way of QQQ puts. So, for the portfolio: Close out the 10 Jan 315/325 bull call spreads AND buy 10 more Jan monthly QQQ 60 puts. Do this at open.