Apple (AAPL) is trading now at $158+ up 4% after announcing earnings last night. Where is the double calendar trade now?
| Strike – Type | Month | Bought (+) Sold (-) | Price Yesterday | Price Today | Return |
| 140 P | August | -1 | 2.66 | 0.65 | 2.01 |
| 140 P | Sep | +1 | 4 | 1.84 | -2.16 |
| 165 C | August | -1 | 1.93 | 2.50 | -0.57 |
| 165 C | Sept | +1 | 3.15 | 4.60 | +1.45 |
That is a return of $0.72 on an investment of $2.57 or 28%. The implied volatility of the August call has dropped to 27% and the August put implied volatility has dropped to 32.5%
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