AAPL strangle
Today AAPL closed at a really cool place……or close to a really cool place……the daily Fuzzy C of $86.90.
Given the higher potential for price to impulse away from a Fuzzy C, here’s an interesting options play for it:
Buy 10 x .QAABT ($100 strike Feb calls) for $0.30 each.
Buy 10 x .QAANO ($75 stike Feb puts) for $0.25 each.
Outlay and maximum risk is $550.
A quick 123 impulse north or south of this $87 area should produce some nice profit even after deducting the loss of the other side of the strangle.
I’ll revisit the prices in a couple weeks and see whether or not there’s been some volatile impulses one way or the other and see how those option premiums have moved.
