I wanted to review the AAPL bounce today at 10amEST
The Philly Fed #’s had just come out & we had been watching the $536/$535 area for support on AAPL
I provided charts on both $545 & $550 puts and the AAPL 5min and daily charts
I had done some fibonnaci retrace levels to come up with that $536 area which a lot of traders thought we could not hit
I’ve provide some notes below since I didn’t trade the options as well initially since hesitated a bit this morning but then should have locked up over $30,000+ profit (just went thru the new levels ) on the $550’s puts we had re-entered yesterday after locking up $4,570 on them yesterday .. This week working better on AAPL options by taking that bearish stance that we mentioned last week in the chatroom with @mmassassin.
Hope you learn something from the key levels and bounce times (10amEST ) click on the chart to make it larger