Apple Options volatility around IPAD3 news release

Quote from tmf:

in 4 weeks turned 1K into 20K :-) then i boought my next batch of options that were always about $50 higher in the chain, but when aapl went backwards it screwed me up and now I am $80 out..... dang, to far out.... anyway it was quite the ride :-)
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were you just going long front month outs (otm calls)? not bashing the strategy just curious.
 
Quote from FrankSlaughtery:

were you just going long front month outs (otm calls)? not bashing the strategy just curious.
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Sounds right.

When apple was "surging" I was buying OTM by say 4 strikes for $2, wait till they hit 4, sell.... take 1/2 the profit and do it again!

Most of the action happened within hours! :-) 1-2 days max!

I made the mistake when it was $526? to buy $600's should have been more $550-560's, then when it backed off the floor fell out!

Only a good stategy if the stock is surging forward..... over a week or more.....

I am new and it sounded right at the time, still made $, but the last bunch of $600's looks doomed...... praying for some movement....
 
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