Still leaning towards Apple making another push upwards. Despite dipping below the white support trend line, it keeps finding its way back above it to reclaim. Elliott count in yellow still valid for me as rules are still being obeyed.
Bullish scenario: above the white support line, looks bullish with potential to pop up nicely to the $140s +
-- slightly out of money call or call debit spread. I'm more for the slightly out of money because of my opinion how it can easily run to 141 then to 150
Bearish: if price falls back below white trend, I expect a test of $125; should 125 fail, I'll expect a test of $120 area again.
-- at the money put debit spread
Neutral scenario: If unable to get above $133.61, I'll expect price to move sideways between $134 and $125
-- potential strategy: if volatility remains low with options premium lower, look for double calendar spread, taking advantage of some nuetral price movement while looking for volatility to rise with earnings on horizon
Currently I am in a bull call debit spread a month and half out. I'm leaning towards another push up, still maintaining my first price target of $141-144 with potential to run to $150. The more consolidation or sideways movement between $134 and $125 I think gives it better odds to run to $150.
Bullish scenario: above the white support line, looks bullish with potential to pop up nicely to the $140s +
-- slightly out of money call or call debit spread. I'm more for the slightly out of money because of my opinion how it can easily run to 141 then to 150
Bearish: if price falls back below white trend, I expect a test of $125; should 125 fail, I'll expect a test of $120 area again.
-- at the money put debit spread
Neutral scenario: If unable to get above $133.61, I'll expect price to move sideways between $134 and $125
-- potential strategy: if volatility remains low with options premium lower, look for double calendar spread, taking advantage of some nuetral price movement while looking for volatility to rise with earnings on horizon
Currently I am in a bull call debit spread a month and half out. I'm leaning towards another push up, still maintaining my first price target of $141-144 with potential to run to $150. The more consolidation or sideways movement between $134 and $125 I think gives it better odds to run to $150.