Friday, August 17, 2012
Apple: Too easy
The Apple Iphone 5 is scheduled for introduction on Sept 9. The company, before this new product cycle, is selling at 10x forward earnings and growing at a declining 30% rate. 10%+ of market cap in cash on hand. Too cheap.
Bought $650 April 2013 calls
Sold $655 April 2013 calls
at a net debit of $2.4. Looks simple.
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1 comment:
This turned out to be a total trap. This position is toast. Too much risk on a high flyer.
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