On Friday’s Options Action, the crew analyzed the performance of Apple stock. Apple just completed one of its best monthly performances at all-time highs with very strong momentum. Coupled with a new product cycle to be announced in 2 weeks, investors are looking at that catalyst to provide further upside. Expecting a continuation higher Michael Khouw suggests buying an Oct 230/245 Call Vertical for a $4.40 Debit. As of Friday’s close, this spread is trading at $4.42.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up Options Action