Sold Naked Puts on AAPL, Again

I got out too early last time around and now that Apple (AAPL) has gone up another $50, I’m back in.  While AAPL was trading at $183.24, I sold one AAPL June 170 naked put (APVRN) and received $449.25 after commissions.

My reasoning was simple.  Earnings were already out and good and the chart didn’t look like AAPL would pull back lower than $170 by June expiration.  Throw in the good premiums and I’m back to repeat previous trades.  I know part of my mindset is to get in deeper invested and AAPL trading that high made it easier.  Had I been on my toes I would’ve gotten in as soon as AAPL posted the good earnings report.  I didn’t move quickly, so my strike is higher and my premium is lower.  I’m still in though.

I planned to make the trade in my IRA, but didn’t have $18k available.  AAPL could easily be a long term trade.  You know my mindset for long term is 6-8 months, not quite a lifetime.