RAX Dec 40 Calls

25% return overnight!

happy trading...

Monday...

Quant funds cutting Apple.  APPL is off around 50 since its high and the passing of Steve Jobs.  we have discussed buying puts after the CEO change.  3rd quarter earnings have been good and without Europe news we should be much higher.  There has been no real tailspin drop and the market is showing a bullish trend.  the next event on the horizon is the supercommittee and next week may hold a pull back if there isn't anything out of them on the 23rd...

Picked up dec RAX calls today 40s @ 3.60... looking to exit 4.50 or better...

happy trading...