This is the short term view of Apple. Currently within wave 4 (green) of wave 3 (blue) of wave 5 (white)
im expecting a bounce this week to 155 before a trace for leg C to finish the green wave 4 around 148. From there 165 is the target, likely by late Nov to mid Dec. Keep in mind that Sept 17 and Dec 17 are quad witching days.
I may look to play Nov or Dec calls for 155-160 when apple hits 148.
A weekly play of 150 by Sept 17 may pay off as well, but is risky as this Friday is quad witching, so expect high volatility.
Potential Play: 9/17 150c @2.10
SL: 1.81 stop 1.80 Limit
PT: 4.90 Limit (assuming share price = 154.50 by sept 15)
im expecting a bounce this week to 155 before a trace for leg C to finish the green wave 4 around 148. From there 165 is the target, likely by late Nov to mid Dec. Keep in mind that Sept 17 and Dec 17 are quad witching days.
I may look to play Nov or Dec calls for 155-160 when apple hits 148.
A weekly play of 150 by Sept 17 may pay off as well, but is risky as this Friday is quad witching, so expect high volatility.
Potential Play: 9/17 150c @2.10
SL: 1.81 stop 1.80 Limit
PT: 4.90 Limit (assuming share price = 154.50 by sept 15)