Coincides with SPX's possible wave 4 pullback? currently holding SPY 218 puts for Sept 2nd expiry.
Will wait to see how AAPL reacts when it gets close to the fib (102.99), which also is in the same range as the 200 and 50 SMAs.
If whole wave plays out and wave 1 = wave 5, aapl should see 115 region.
Plan: Long AAPL call options when aapl gets close to 102.99, will use SPX's levels around then to determine if pullback is over and SPX is primed for wave 5 to 2300s.
that would give us 50% fib and gap fill and is the lowest aapl to go for this 5 count wave to be valid so wave 4 doesnt go past wave 1 top.
entry at 103
stop at 100
Risk:Reward > 1:3
will consider shorting at 106.7 for 103 puts next week
might be a good thing considering how AAPL has news next week (Sept 7) , will wait to see what happens after that for IV to die down