When the week started with our weekly options we looked at the continued downward movment in AAPL that we can see on this 60 minute chart.
Whenever we sell a naked call, we are always looking for a safe haven to sell at. By safe haven, we mean a level that we do not expect AAPL to reach for the week. The Call at the 330 level was very inviting considering the stock had to move up 20 points for the week.
AAPL does not move 20 points a week on an average good week. And considering it was in a downward movement, we calculated a very good chance of winning.
As the options expire today we are going to be in a good position. We sold the options for $14 per contract on Monday.
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