AAPL – Apple Computer (Last:312.80)

We are long the November 300-310-320 butterfly spread for a 0.20 debit. Earlier, I’d raised the possibility of widening our theoretical profit zone by butterflying the 320 strike, but the stock has not cooperated with the dip we’d need to leg into the position at great prices. In fact, it’s in a parabolic rally right now that seems to pause only when the stock’s canny handlers will it.