AAPL High Conviction Reversal Long

Apple Inc.NASDAQ

Description

⋅ Mar 8, 2021 5:40 PM

Apple is at key trendline and 200SMA support right now. It is one of the more oversold tech players and will likely reverse back to its mean.

Trade Ideas:

Shares: Long around 117.5 for 125 and 130+. 5-10% Swing.
Covered Call: 131.25 expiring 4/16 for $1.5 credit. 17.5% assignment probability and a 12% covered return.
Credit Put Spread: 110-111.25 strikes expiring 4/16 for $0.33. 64% POP and max loss of $92.
Short Put: 100 expiring 4/16 for $1 credit. 92% POP and $1000 BPE for a 10% max ROC.
Strangle: 100-140 expiring 4/16 for $1.65 credit. 80% POP. $1170 BPE for a 14% max ROC

Trade active

⋅ Mar 15, 2021 5:58 PM

Close Short Put. The 100-strike SP is currently trading for $0.38, so, close for a 62% or $0.62 per contract profit.

While all the other mentioned trade ideas are currently in profit, I see more room to make profit as time decay ramps up.

Comment

⋅ Mar 19, 2021 7:07 PM

Close Strangle. The 100-140 Strangle is currently trading for $0.77 for a $0.88 per strangle or 53% Profit.

Comments

UnknownUnicorn14656390

⋅ Mar 9, 2021 3:28 PM

Excellent, thank you for the trading ideas!

Cheers

UnknownUnicorn15571923

⋅ Mar 8, 2021 7:36 PM

Agree. getting chased down too quickly, rates & oil need to take a breather. mean reversion coming

nice options play. following