At expiry, as long as the Apple (AAPL) is trading above (120 6 = $114) you have made a profit. The proper strategy will be the strategy thay allows for the highest possible return with the least amount of risk and the best possible protection that can be afforded. This provides you with the option premium while your maximum risk is strike price of the option minus the premium received

Source: The Real Articles: Finance | Stock Market Investing