There are always a lot of eyes on $AAPL but what is everyone looking for? What is going to show itself as a clue for a “bottom” in price?
I see one divergence as price probes the bottom of this channel ….
– DM 10:55 AM CST
The above graphic is via Estimize and is the EPS information they provide (I added the Red lines however). It appears that the consensus on Estimize is near $2.25 for EPS as it heads into Earnings AMC today (4/27).
Now for some Option information for $AAPL:
Now for a quick look at the Daily chart:
One of the more anticipated news event is the Apple product announcement today. One of the potential benefactors is $GTAT and so I put on the following trade yesterday to play for an IV crush:
Here is a breakdown of the trade:
So how does this trade work? Let’s view another way to look at the trade:
Once the $AAPL event is over – and the $GTAT news is available – I am looking for the weekly Option IV to implode. As long as it stays within the 14-22 range I can look to do any necessary adjustments this Friday (if price stays in this $17-18 area, yippee).
I did a post in December on the 3-box & 4-box PnF charts for $AAPL and thought I would do an update to see how things look now. First the 3-box PnF:
Now the 4-box PnF:
We are currently heading into expiration for the December Option chain for $AAPL and I wanted to show some perspective at the price range in the 510 Call that has occurred (currently own using proceeds from my pre-market scalps today).
Here is a 60 minute chart of the December 510 Call:
I do PnF charts on stocks frequently in order to see how things are playing out for those that trade from this style of chart. Here are 2 views, the difference being the Box Reversal setting. First, here is the standard 3-box reversal:
Some data points to note on this view: