Unlike many of the big-tech names, Apple’s (AAPL) earnings did not disappoint, and shares have rallied around 7% so far today.
The protective put we purchased to hedge our covered call position is on track to expire worthless. We will simply watch it do so.
If the stock continues to run, I may recommend rolling our call to a higher strike price to capture more potential appreciation.
Note: No action is needed on the AAPL Nov Week One (11/4) 145 Call at this time.
Current Stock Price: $155.58
Cost Basis: $155.39
Action: Watch the AAPL Oct Week Four (10/28) 140 Put expire worthless