AAPL – July 180 Calls…a success!

As I wrote earlier today, I bought some July 180 AAPL calls at $2.50 per contract on what looked to me a temporary dip in an otherwise surging stock.  I’ll be honest when I bought them my plan was to ride the wave of hype surrounding the new iphone launch on Friday.  I also said that my sell goal was $3.85 per contract or $1.35 in profit on 15 contracts.  As I watched aapl surge once it hit 3pm, I knew I would have an opportunity to at least come close to my target price today.  The one mistake I made was I moved my stop down to $3.65, leaving $.20 per contract on the table.  But I sold with a very nice profit for the day, pretty much erasing my left over FSYS losses.

Lesson learned?  Stick to your stops, it’s better to take a profit now than a loss later…I know aapl’s stock well in a way that violates my rules for the most part.  It’s ok for me to continually play with the options, but on a limited % of my portfolio.