[Closing July Spread on Apple (AAPL)]
Dear Member:
Apple (AAPL) has been showing great strength and it looks like I am able to close my July 120/115 bullish spread at a good gain. I am placing an order to close the spread by simultaneously buying to close the Jul 120 puts (QAASD) and selling to close the Jul 115 puts (QAASC) at a limit of $0.30. You will recall that I entered this position just 3 business days ago for a $1.45 credit. If filled, I'll make a profit of $1.15 a share before commissions and a return on risk of 32.4% in those 3 business days.
DISCLOSURE: At the time of publication, I have the referenced spread in place.
Sincerely,
Bill Kraft
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