Shares of Apollo Group (APOL) are down 14% to $13.35 (down $2.19) after reporting earnings following Monday's close. They have traded to a low of $13.
We recommended our subscribers play the possible downward move by using the July 15 puts (APOL150717P00015000). The options are currently at $1.70, up 60 cents, and we profiled them at 68 cents. We suggested closing half the trade at $2 this morning and this target was reached on the free fall to $13. We should easily make 150% return as we are setting a stop on the other half of the trade.