# Apple Stock Short Strangle

Page: https://stenobird.com/podcast/option-trades-today-3580021/apple-stock-short-strangle
Text version: https://stenobird.com/podcast/option-trades-today-3580021/apple-stock-short-strangle.md
Podcast: [Option Trades Today](https://stenobird.com/podcast/option-trades-today-3580021)
Published: 2026-06-01T17:05:00+00:00
Episode link: https://optiontradestoday.libsyn.com/apple-stock-short-strangle
Audio file: https://traffic.libsyn.com/secure/optiontradestoday/TT1965_OTT_260601.mp3?dest-id=2645120
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JSON: https://stenobird.com/v1/public/podcasts/option-trades-today-3580021/episodes/apple-stock-short-strangle
Duration seconds: 238

## Resource

Apple is down nearly 2% today and IV rank is climbing toward 40. That combination is exactly what you look for before selling a strangle. The trade: sell the 280 put and the 335 call in the July cycle with 46 days to expiration, both at one standard deviation. The credit collected is over $400, theta decay runs at $13.50 a day, and the break-even on the downside sits near a level Apple has not traded at since its late May gap up. Both strikes are outside the expected move and the upside has never even been tested.

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## Transcript

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