AAPL trade taken on April 29 Put credit spreads never got down far enough for Debit Call spreads, eventually became breakeven plus little for fees and lunch. Then the May 17 I did Aug Call credit spreads, exited today for fees plus lunch and it never got high enough for debit Put spreads. Love credit spreads once you figure them out and willing to do what most won't, just don't bet the farm. I am still pondering or more like have not be able to figure out trading weeklies for "edge" using them.
Forth time the AAPL is dropping to the $92 level. It it comes close it would have high odds of passing this level without any trouble. Over the past year the AAPL bounces 3 times from this level. First time it bounced 35 %, second time it bounced 22% and the third bounce was 7% only. Each time the AAPL dropped to and below $92 level the bullish trader considered it as a good point to buy the Apple stocks. However with each new bounce, the number of these bullish trader became smaller and weaker. As Richard Wyckoff says, "all Bullish traders should be shaken off before a dive down" and it looks like this is exactly what is going on on the AAPL stock. If the AAPL drops further closer to the $92 support level, there could be not enough Bullish traders to reverse this stock up. If this level is broken then the next stop is way down around $77 level - this is where the highest trading activity was noted (highest volume was accumlated) over the past 2 years: chart courtesy of http://www.marketvolume.com
In fact, it's quite intense and long-awaited moment. All are waiting to see above $100 as soon as it's possible.
Increasing my long deltas ahead of earnings again, because i have a tendency to let this stock take my money that i work hard for.
it is 3% only from $91.50 to $94.40. It is not an uptrend yet.... numbers are not bery good for the AAPL
I predict it closes at or below $93.50 on Friday. Next week it should head south. I own 7/18 $92 puts that I got for cheap today.