The market opens down a bit this morning but seems to have firmed a bit as we approach halftime. I have 31 open positions in AAPL this morning as I write this. I think I had about 6 more this morning but I spent some time closing out deep in the money call spreads and out of the money puts and put spreads that I was net short, that is bull credit put spreads.
I opened a new bull put credit spread, the Dec22 600/570 spread for which I received about $15. However I came into the morning already short a Dec22 580 put at about $25 so this creates a bit of a put fly.
I also opened a new bull call spread, the Feb2013 600/700 which cost me $24.35. Seems pretty safe that AAPL should close above 624.35 after Q1 earnings
GOOG opened down below 660 but looks to rebounding above 668 now. I am long the equity itself but also long a Jan2013 600/720 call spread and a Dec22 680/690 call spread. Against this I am short a couple of this weeks 680 calls at 2.25 each. I am considering rolling these short calls into a Dec22 700 short call and then Thursday will look to sell another weekly call expiring on Dec7.