Friday, May 18, 2012

Adding to AAPL

I've been a bit busy to write new entries, but in the interest of full disclosure wanted to mention that a new purchase of Apple today and the purchase made in the course of my long/short AAPL/RIMM position (the RIMM leg of which closed last month at a gain of about ), I have doubled my AAPL position this year. That is, accumulated 2012 purchases equal my pre-2012 holdings. This raises my average entry price, but at current earnings growth the P/E is just too good at these pullback prices for me not to participate.

In other news, in a hamfisted and clumsy move I tried to enter a covered call on DNR and ended up entering a naked put, which executed. Come Monday, that will reflect assignment over the weekend at $16. Whoops. Object lesson: read everything you click. That review pane has a purpose. The company's been volatile, and its product is oil, so the current ~$15 won't last. I'll be looking to exit at least some of my post-accidental-additional-purchase position in the next few months.

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