On 2/22/08, I posted the following:

“Apple’s challenges regarding its inability to generate the promised sales and revenue from iphones is not warranted.  because the iPhone likely generates gross margins of 55% to 60% — compared with 30% to 33% gross margins for the rest of Apple’s product line — the device could be responsible for as much as 80% of Apple’s earnings. 
That said, bought 5 blocks at 116.45 and wrote 500 March strike 115 at 6.60/contract.  I feel that I not only have a hedge of approximately 5.00/share but also a good pivotal entry”.

On 3/28/08, the shares closed above 134.  Since they closed above the strike of 115, the shares got called away and I pocketed 5.75 per contract times 50,000 shares.

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