### Comment:
13k in collateral to make a $360 gain though? A 2.7% return on 13k? He'd probably have been better off just outright buying AAPL.

### REPLY:
I agree, this trade on its own is not an effective use of capital, but it can be hedged without needing that much more in collateral. I would morph the position into a short strangle, higher chance of profit.

### END.