Adjusting my AAPL position

I have currently two strangles in AAPL.

I have opened the first one on 13/9 : 130 P – 180 C with exp date 18 Nov for a $3.25 credit.

A couple of days later, on 15/9 I have added a tighter second strangle 145P -170C with exp date 21 Oct for a $4.25 credit.

AAPL was trading around $154 back then. 

Last week and today, AAPL traded down to $146. This down move was mainly inspired on the news that the demand for the new iphone turns out to be lower than expected.

In order to lower my directional risk close to zero and to profit from the increased option prices with an IVR of 80, I rolled the call on the first position down form 180 to 170 for a nice $0.86 credit, bringing my total credit on that position to $4.11

The second position is at 23 d of expiration. Because a expect a small recovery I will wait two more days till Friday to decide to close or roll that position.

AAPL was trading at $147.8 when writing this post. By the way, my wife just told me that my old Iphone SE needs to be replaced 🙂