In this particular trade, I went long the Feb 80's for $2.20 and short the Feb 85's for $1.00.
The spread expires on February 17. So, I basically need AAPL to move into the profitable range by then. The spread limits both upside and downside. Ignoring transaction costs, break-even for this spread is at AAPL equal to $81.20. Here's a profit-loss diagram for the spread I entered into today. (Click Image to Enlarge)
![](http://photos1.blogger.com/blogger/4571/1164/400/AAPL_BullCallSpread.0.jpg)
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