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AAPL July 17 372c
so my thoughts are as follows... we have well defined support line, proven at 321.05, 331.17, 345.64 more or less... and we break through support at 358.16. so now support becomes resistance.
and that line trends up $2.50 a day more or less... yielding +40% return per contract if we reach our new resistance level (368) on July 7, for example, which is not unreasonable if we see an uptrend take root early next week.
now, we could conceivably buy a July 10 contract for 370 strike and if we hit the forecast resistance point of 368 on July 7, we still see +40% returns, but this contract costs about 25% more than the July 17 contract and one of the best things you can do when purchasing options is to purchase time. so the July 17 expiration is the same reward with less risk.
obviously if we never see confirmation from AAPL that its beginning its uptrend, im not entering the trade, but if things stabilize monday and we see positive indicators, this is an easy set it and forget it swing trade. ill just set an alarm for AAPL reaching 365'ish and if we reject and reverse once it touches that resistance area, i exit the trade at profit. otherwise i ride it out until it loses steam.
x factors: VIX crushes, trump sneezing in front of the cameras, literally anything powell says or does.
and that line trends up $2.50 a day more or less... yielding +40% return per contract if we reach our new resistance level (368) on July 7, for example, which is not unreasonable if we see an uptrend take root early next week.
now, we could conceivably buy a July 10 contract for 370 strike and if we hit the forecast resistance point of 368 on July 7, we still see +40% returns, but this contract costs about 25% more than the July 17 contract and one of the best things you can do when purchasing options is to purchase time. so the July 17 expiration is the same reward with less risk.
obviously if we never see confirmation from AAPL that its beginning its uptrend, im not entering the trade, but if things stabilize monday and we see positive indicators, this is an easy set it and forget it swing trade. ill just set an alarm for AAPL reaching 365'ish and if we reject and reverse once it touches that resistance area, i exit the trade at profit. otherwise i ride it out until it loses steam.
x factors: VIX crushes, trump sneezing in front of the cameras, literally anything powell says or does.
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