Bite of THE APPLE
Updated
Short term plays for options traders. (<30.d OTM 130 CALL and <60.d OTM 140 CALL)
APPL is currently sitting on a level of demand accumulation, if it breaks $125.14 there is a stronger level of demand right below it at $123.52-$121.115. I'll be waiting to see how the week ends, if it can hold the current level one can get into a 30 days OTM 130 call right below the level of supply. If the current demand level breaks and goes to the following demand at $123, the OTM 130 CALL is still a good option but I'd be looking for a <60 days $140 OTM CALL since buyers will come in rolling at a lower level and momentum shall pick up. Be aware of delta, gamma, and theta when getting into the trade.
APPL is currently sitting on a level of demand accumulation, if it breaks $125.14 there is a stronger level of demand right below it at $123.52-$121.115. I'll be waiting to see how the week ends, if it can hold the current level one can get into a 30 days OTM 130 call right below the level of supply. If the current demand level breaks and goes to the following demand at $123, the OTM 130 CALL is still a good option but I'd be looking for a <60 days $140 OTM CALL since buyers will come in rolling at a lower level and momentum shall pick up. Be aware of delta, gamma, and theta when getting into the trade.
Note
Supply level was triggered.Note
Supply Level is working wonderfulNote
I am Long 140 call as of this AM when it hit the level of Demand at 123.52Trade closed manually
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