buying AAPL 390 Nov calls at 1.59 OVERSIZED the strategy here is to accumulate to the bullish stance now that on my formulas a significant intraday positive has cleared.

/b buying AAPL 390 Nov calls at 1.59 OVERSIZED the strategy here is to accumulate to the bullish stance now that on my formulas a significant intraday positive has cleared. Will for now continue to hold the $AAPL 400 Nov calls long for not but not sure if I wish to hold those overnight. I have the option now if I wish to protect those positions overnight, to short the 395 calls and move the position into a butterfly, or just remove the 400 and turning that leg into the short debit leg depending on where we stand at close. As far as the markets, I don’t think we close at lows this time but rather float upwards due to resolutions in new government formations in both Greece and Italy. I think the Uncertainty is now behind us and we should lift higher in the coming days. But todays weakness thus far calls for cation so have not yet made other a bullish or bearish bet on the $SPY itself. SPY is now under the 126.20 area of strength and build but above the trend line that now is at 124.85. I continue to watch that support resistance as point of real build and the support line as the level to hold before turning bearish.

Posted in General Trading