Apple Covered Call Expires

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.

Since inception

• 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.