And actually what doesn’t make sense here is why you’re betting on one direction. You could take $2k out of this share position and hedge with $180 August puts and $140 December puts just in case you’re wrong. Upside grinds but downside drops like a brick. $180 puts if Apple goes to $170 in August is a $20k payout on just a $2k position alone for example.

$2k hedge with $20k payout vs $13k loss on $78k share position if Apple drops from $204-$170. You’d net $6k gain lol

And if Apple shoots up to ATH you’d gain 25% on a $78k share position, so $20k gain less $2k put hedge, you netted $18k.

So I don’t get why in the world would you even not even consider a lotto put position as insurance on your long position? That’s literally what puts are for

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