My shares of Apple were called early.
music selection: “Just Like Me” — L7
I got notification this morning that my shares were called overnight. The trade was opened on 18JUL2016 and paid 1.98. That was 16 days in force. Against my cost basis of 100, the annualized return on that call was 45.17%. I also picked up one dollar in short term capital gains.
I got back into the position by selling AAPL160916P00105000 for 2.36 a share. That trade will be in force for 44 days and yields 18.65% annualized. The trade enjoys 2.48% downside protection. Apple remains very cheap after backing out the cash on the balance sheet. I expect to be able to play this one for a long time.
Devour your prey raptors!