Quick Play. Risky
Greetings Investors.
AAPL formed a round top on the 120m chart, consolidated and found support at the 20 MA, so far. I anticipate a retest of resistance before the next monthly option expires (19 Feb), largely based on the momentum swing to the upside (MACD and TTM graphs). Based on this, I outline a strategy below. You can read more about rounding tops here thepatternsite.com/roundingtop.html.
Strategy:
1. Consider the 140C or 145C for 19 Feb. This is a very risky play, since theta (time decay) is working against you. If you decide to open a position, only risk what you're willing to lose altogether.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
AAPL formed a round top on the 120m chart, consolidated and found support at the 20 MA, so far. I anticipate a retest of resistance before the next monthly option expires (19 Feb), largely based on the momentum swing to the upside (MACD and TTM graphs). Based on this, I outline a strategy below. You can read more about rounding tops here thepatternsite.com/roundingtop.html.
Strategy:
1. Consider the 140C or 145C for 19 Feb. This is a very risky play, since theta (time decay) is working against you. If you decide to open a position, only risk what you're willing to lose altogether.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
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