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📉 Closing the Spread: A Costly Lesson in Execution, Timing, and Risk Management
Recently, I closed a vertical call spread on Apple Inc. (AAPL), both legs expiring on August 25: This bullish spread was originally sold for a $0.18 credit, aiming to profit from moderate upward movement in AAPL while capping risk. However, the trade didn’t go as planned—and the lessons learned were invaluable. 📘 What Is a Vertical…