As previously discussed cci is long the Jan $300 aapl call, and has been selling shorter term calls against that leveraged position. This past weekend the July $465 call expired worthless, resulting in a $5.73 realized profit.
Buying and holding Apple stock would have resulted in a 1.4% loss (including dividends).
Buying the $300 leap would have resulted in a 9.9% loss.
CCI's LSO approach has resulted in a .9% gain
A nearly 1% gain vs. Over a 1% loss is not that spectacular, but still favorable. Apple earnings will be announce shortly which can create some risk/volatility for this position. In the coming days cci will be evaluating reestablishing a covered call to try to harvest potentiality higher option premiums available around earnings, or simply closing the position, with the probable intent of reestablishing it after earnings.