Week 20 of 2008 trading is finished.
Take a look how AppleOption has performed against the market this year.

S&P 500 -2.3%
Dow Jones -1.13%
NASDAQ -2.46%
Apple -4.22%

AppleOption Short-Term Portfolio (STP)
      Started the year with $10,000
      Current portfolio value $19,498.51 (after commission/fees)
      Year-to-Date Gain 94.9%

AppleOption Long-Term Portfolio (LTP)
      Started the year with $25,000
      Current portfolio value $29,090.62 (after commission/fees)
      Year-to-Date Gain 16.3%

Index Condor Portfolio
      Started the year with $10,000
      Current portfolio value $10,114.97 (after commission/fees)
      Year-to-Date Gain 1.1%

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S&P 500 5-day

Dow Jones 5-day

NASDAQ 5-day

Apple 5-day

     

S&P 500 3-month

Dow Jones 3-month

NASDAQ 3-month

Apple 3-month

     
AppleOption Short-Term Portfolio

The STP has had a fantastic week! We gained $2,450 over the last week to finish just over 19K, up 94.9%. We started the week by selling premium. The portfolio then locked in $5,321 of Profit and removed significant money from the market waiting for a pullback. Apple then had a great retrace that allowed the STP to Buy on a Dip. In preparation for option expiration, we did some final repositioning utilizing a Backspread Ratio. With only a few hours before expiration, the STP then Collected $645 of Premium from our short calls. We finished the week in a strong bullish position while holding 50% cash after nearly doubling the portfolio’s 10k initial capital for the year.

AppleOption Long-Term Portfolio

As usual, the LTP does not need frequent trading to profit. The portfolio only made one trade this week as May short Callers were Rolled into June. Despite minimal trading the portfolio was still able to gain $793 for the week.

Index Condor Portfolio

The Index Condor Portfolio, as described in last week’s review, is beginning to employ additional option trading styles besides the standard iron condor trades. We started the week with this Trade Alert. As always, when entering new trades it often takes a few weeks for the portfolio to stabilize. The timing of our entry was nearly perfect, though we lost $238 for the week.

     
Up-Coming Earning Reports: for a full listing of companies

Monday May 19th
      Lowe’s - LOW
Tuesday May 20th
      Home Depot - HD
      Medtronic - MDT
      Target - TGT
Wednesday May 21st
      Dillard’s - DDS
Thursday May 22nd
      Barnes & Noble - BKS
      Gamestop - GME
      Gap Inc - GPS
Friday May 23rd
      nothing major

Apple News:

Macrumors.com shares pictures of Mobile Location-Based Software for the iPhone. The example shows that users in Starbucks could order their morning coffee and later be alerted when the order is complete. All without standing in line!

For the first time in history, Apple’s WorldWide Developer’s Conference (WWDC) has sold out! The WWDC08 will run from June 9-13 in San Francisco. The Keynote address will be held on Monday June 9th at 10:00 AM PST. “A team of Apple executives, lead by CEO Steve Jobs” will deliver the presentation.

The iPhone’s market reach quadruples after France Telecom’s Orange announced they will introduce the iPhone to 10 more countries. The general belief is that the new 3G iPhone will be announced on June 9th.

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