ACTION:

Buy to open the AAPL January (2017) 115 calls (AAPL170120C00115000) for a maximum price of $1.40.

Dear Momentum Options Subscriber,

I have a New Trade for the portfolio this morning on a beaten-down tech name. Shares of Apple (AAPL) held near-term support yesterday, and I’m looking for a strong rebound.

 

Apple (AAPL, $105.71, down $2.72)

Buy to open the AAPL January (2017) 115 calls (AAPL170120C00115000) for a maximum price of $1.40.

Action:  I like these call options at current levels, and you can use a Limit Order up to $1.40 to get the best fills this morning.

These are the regular monthly options that expire on the Jan. 20, 2017. I will provide the parameters of the trade in today’s Mid-Market Update.

The chart below shows multi-month support at $104-$103 and the 200-day moving average. A close below $102 would be a bearish development. Resistance is at $106-$107 and the 100-day moving average.

aapl

I hereby disclose that I will be participating in the aforementioned trade(s).

Trade on!

Rick Rouse
Editor and Chief Options Strategist
Momentum Options