Stock Pick: AAPL ***Update- wrapping up the trade

Today I closed my May 95 Apple calls at $5.90.   I made $260/contract or 78.8% return.

This was disapointing.  I should kick myself.  Why?  I broke the rules and took off my trailing stop.  Had I left it in I would have been good for another $200/contract.  Lessons learned.  Interestingly enough my friend talked to someone on the opposite side of my trade.  He bought a Put against Apple this morning when it was near its peak and rode it down and made a profit.

Greed is good, but you have to book your profits!

Rule#1:  Preservation of Capital is the most important thing.

Rule#2:  Paper profits are just that.  They won’t buy you a new car unless you book your profits.  Don’t get greedy and risk all your profit to get an extra 20% that may never come.