New Trade : AAPL

Stock / Symbol: Apple Inc / AAPL
Option Strategy: [private_monthly]butterfly call spread[/private_monthly]

Price at trade post: $507

Reasoning: Making a play on tomorrow's Apple event where they're expected to announce a new version of the iPhone and a cheaper, plastic iPhone. This is an upwardly biased bet so I'm not risking much on this [private_monthly]butterfly call spread[/private_monthly] should the AAPL announcement disappoint the street. This trade has a delta of 3.9, a positive theta of 4.0 and a negative vega of -12.2. Please note my fairly tight downside stop below. Looking to close the trade if/when the upside stop is hit.

Trade Details:[private_monthly]
BTO 1 AAPL Oct13 500 call
STO -2 AAPL Oct13 525 calls
BTO 1 AAPL Oct13 550 call
for a max net debit of $4.90 per contract (day order, limit order). The mid is currently at 4.80

Requirements:
Cost/Proceeds $490
Total Requirements $490
Estimated Commission $6
[/private_monthly]

Max Risk: $490
Max Reward: $1,500 or 300% (at current volatility level) [private_monthly] at $525 by Oct 18
Profit Range: $505 to $545 by Oct 18
Suggested Downside stop: @ $489
Suggested Upside stop: @ $530
[/private_monthly]

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Positive Theta