My put in Apple got assigned over the weekend.
music selection: “Forever Again” — Eric Clapton
weigh-in: 218.4 (0.8)
Apple continues to trade cheap. I think there is a tailwind in the form of old phones that might upgrade at the next iPhone release. I’m trading this for income rather than growth though and have the strike at my entry price.
Today, I sold AAPL160715C00100000 for 1.65 a share. The trade will be in force for 40 days. The annualized yield is 15.06%. That is about 11.3% after taxes and beats the long term average of the S&P. I think this is clearly a better bet than indexing to a broad market average. There are other good strategies for beating indexing but this is the one that works best for me.
Devour your prey raptors!