AAPL Trend & Volatility Likely Unsustainable - Sell Signal
The ADX indicator measures the strength of a trend, not its direction. The mid part of last week
AAPL
was in "full bull" mode printing 23 consecutive bullish 30m candles in our paintbar study. We've included a legend on the chart indicating bars colors and the corresponding strength of a trend.
The Extreme Turn Sell Signal that our strategy generated on Thursday was confirmed for a short entry at 453 when the color rotated from full bull to bull neutral (lime to gray).
Given the strength in AAPL and rich premiums, we chose to express the trade using a Bear Call Credit and even entered an ITM spread which is unusual for our models.
Aug 14 250/255 Bear Call 2.25cr
Underlying target will be the visible range POC at 437, but will manage exits to 50% of premium received.
AAPL
was in "full bull" mode printing 23 consecutive bullish 30m candles in our paintbar study. We've included a legend on the chart indicating bars colors and the corresponding strength of a trend. The Extreme Turn Sell Signal that our strategy generated on Thursday was confirmed for a short entry at 453 when the color rotated from full bull to bull neutral (lime to gray).
Given the strength in AAPL and rich premiums, we chose to express the trade using a Bear Call Credit and even entered an ITM spread which is unusual for our models.
Aug 14 250/255 Bear Call 2.25cr
Underlying target will be the visible range POC at 437, but will manage exits to 50% of premium received.
Trade active:
Correction - levels are 450/455
Trade closed: target reached:
Covered Bear Call Spread 1.20 +1.05 All flat