Fearful, when others are greedy

AAPL 620. Around here there is some technical resistance, so I just sold calls AAPL 650 Jan. 2015 @ 29.80 to match the calls AAPL 500 Jan. 2015 that I have in my portfolio – to take some profits off the table and bring the cost of the spread down to $59.2, for a potential maximum profit (if AAPL>650 in January) of $90.8 or 153%.

So now I have two AAPL Jan 2015 spreads:

Bull Call Spread 450/600, cost $27.22, current price $120, target $150 (+451%) if AAPL>600 in Jan
Bull Call Spread 500/650, cost $59.20, current price $95, target $150 (+153%) if AAPL>650 in Jan.


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