Apple (AAPL) – Bullish Options Action Trade for Oct 29th, 2018
The idea presented is the opinion of the Options Action staff and not a recommendation by OptionsPlay.
On Friday’s Options Action, the crew analyzed the performance of Apple (AAPL). Apple has been on par with the market since 2014, but has started to outperform the market and tech sector during the most recent selloff. Coupled with a bullish trendline and triangle formation at its apex, suggests a possible breakout higher. Expecting AAPL to breakout higher during earnings and product launches next week, Michael Khouw suggests buying a Dec 195/220/240 Call Risk Reversal for a $4.00 Debit. As of Friday’s close, this spread was trading at $2.62.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: AAPL Options Action
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