[Closing Long Put Leg on Apple Computer (AAPL) Spread/Selling to Close Jun 32.50 Put (AAQRZ)/Day Order/Limit $0.05]
Dear Member,
Apple (AAPL) has now broken through resistance so I am closing the remaining leg of my Jun bull Put spread by selling to close the Jun 32.50 Puts for $0.05. This only adds to the profit I already captured by buying back the Jun 35 Puts I had sold. I am only selling these because I have enough contracts to make a net gain after commissions even though I only expect to get a nickle. If I didn't have enough contracts to bring in more than the commissions I would just let them sit since the spread was already profitable without doing anything to this leg.
DISCLOSURE: At the time of publication, I own the Jun 32.50 Puts on AAPL.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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