2 More Ways to Play Universal Display

As Universal Display Corp. (OLED) has run higher into the Sept. 12 Apple (AAPL) event, I see a few approaches one could consider against a long OLED position or the skip-strike butterfly posted here on Aug. 17.

First, if one holds the skip-strike butterfly, then a simple move is to bump the long $110 to a long $120 December call and net around $680 on the sale. This adjusts the position to a traditional December $120-130-140 call butterfly and eliminates the potential for a loss since the original trade cost $630 and the adjustment brings in a net credit of $680. Therefore, the worst a trader can do is net $50....103 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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