AAPL trade thoughts
Updated
AAPL has rallied from its recent low. At one point, the price was down to 256! But it hasn't been able to extend the rally up to the last price recorded in its uptrend - 327 on 12th February. The reaction from that high pushed it into a downtrend starting with a price of 298 on 24th Feb. So the question is will the rally push on up to resume the uptrend, or will it react again. If it does, look for a 5+ pt move below the rally high as a signal to go short. Like last time, probably a long June 250 put - lots of open interest at that price and 3 months gives time for the move if it is to take place.
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At market open, AAPL dropped 5+ pts, so opened a long put - at 260, not 250, for June - when price was around 297.
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