I believe you are assigned.
The issue is, when did the holders of those puts have to give notice of assignment? All brokerages will automatically exercise if an option is ITM by a penny. I think they do this at the close, using closing price. I do not believe they will consider the after hours session. Good fortune for you!
I thought Apple would win, but I didn't think they would come back this fast.
unconfirmed opinion since i don't trade the weeklies.
my belief is that only some of the index options continue trading past 4 pm,
aapl is not part of this group,
aapl trading ceased yesterday at 4 pm sharp,
your put was itm, so yes it will be assigned.
ps i believe that those index options which do continue to trade afterhours all cease at 4:15 pm, unlike afterhours stock trading.
Thanks - that is great news. This is a better scenario than I could ever have imagined!
aapl news is streaming your way perfectly. Often i get the feeling options are like an elegant 17th century court dance. Chamber music.
the really fun part comes when a revolutionary mob invades the palace & the music stops. Now the challenges begin in earnest !
Oh, there certainly will be challenges. The way I'm trading, it's inevitable that I'll get caught at a top and Apple will drop $50+. Hopefully by then I'll have a lot of profit built up, and maybe be able to trade a second lower position while the first works itself out.
If Apple opens at $675, I wonder what strike price I should write my covered call at. I'm leaning toward $690 or $695, thoughts?
Originally Posted by GOB
until trading resumes monday morning all weekend option quotes in aapl will be pegged to friday's 663.22 closing price, so i imagine they are all hopelessly too low. I don't know of any way to get an accurate picture of what all series all classes will look like on monday. Especially not if euphoria sets in early mon am.
roughly this weekend i'd be looking north of 700 & i'd be identifying the series with big open interests.
i have no clue why sep 22 calls are like 6 times the aug 31s, although they're only 3 weeks farther out, ie 3 more opportunities in the weeklies. Perhaps lephturn would have insight. Until more detail emerges i for one would be inclining towards the septembers - i know i know, it's not what you want to do
I suspect it is because the Seps are post the event Sept. 21 which is the iPhone 5 launch. Looks like the iPad mini launch won't be until Oct. sometime.
If you get long the stock and end up with nice gains, I think you would be crazy not to collar it. Protect those gains!
I have been assigned! It's going to be an exciting week!
Good work, keep us updated
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