Friday, November 22, 2013

AAPL Calls Update

Yesterday I decided to hold on to the AAPL December $520 calls as I thought/think they have more to go, the position (considering it's a straight option play) is only down 2% which can change with the slightest move so essentially flat,

 AAPL 2 min is in line

AAPL 3 min is a little concerning

However the 10 min chart looks like the divergence was big enough to push to the target area I have in mind.

If the 1 min chart starts a new positive it can essentially migrate over and erase the 3 min negative so I'm watching for that and suspect that based on the 10 min positive that started all of this, you see why I felt I needed the leverage.

 1 min turning leading positive, I'd like to see this continue.

Ultimately the same 10 min that started this little bounce is the same chart that makes AAPL a choice swing short when this bounce ends.

My target for AAPL is just around or above the $525 area, if we saw some stronger momentum the value of the contracts would rise even if price didn't move as high.

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