Scaling out of AAPL LEAPs with good profits

I just sold 80% of my AAPL 2016 100 calls, for which I placed the buy order 45 days ago at $11, at an average price of $18.80, for a +71% profit.

The rise in Apple, fueled by amazing demand for the amazing new iPhones, has been as close as possible to a perfect line up since the slump in mid-October. I guess it has to stop at some point, as valuation has become more rational and as expectations will be harder to meet. Also the iPad, the second business of Apple, will suffer in the next period. And the watch is still about 6 months away.

I keep the remainder 20% of the calls and intend to add in any pullback shorter-term calls (February or April 2015) that I will sell in January. Go AAPL!


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