AAPL Puts

I only kept a small position in December $580 puts, the rest were closed and will be re-opened as soon as I see the set up.

I have a very low tolerance for pullbacks with highly leveraged products. If this were an AAPL short equity position I probably wouldn't have made much of a move, maybe cover a little to try to add back at better prices.

Depending on the correction and position size, I might take 50% off the table in a 3X leveraged ETF like FAZ, but with options and that kind of leverage plus time decay (not that ETFs don't have their own challenges), I have almost no tolerance for a correction, I'd rather re-establish the position after the correction.

AAPL positions closed or partially closed...

 Almost 31%

 A small loss of 2%on the position, as far as overall risk, it represents .17 %, not even 1/5th of 1%.

This is the one I kept half open just in case.


I'll try to get some AAPL charts up as well, I haven't changed my views on AAPL at all (just tactically).