Stock, Option and Futures Trading
DOW 11,850, AAPL $400
Yesterday we were saying that the DOW could fall back into the 11,858 level and so far the low of today is 11,850. There is a lower level at 11,790 so I am waiting to see how the market reacts off this low before jumping in AAPL calls. We were looking at the $401 for AAPL for a possible entry level but it is not looking like a good place here to just jump in.
Overall the market will most likely stay in a range today so unless we see something that would say we breakout one way or the other we will most likely stay flat going into the weekend.
It is still early so lets wait and see how the next hour trades before doing anything as far as options.
PS. Right here might be a good level to enter the AAPL calls as far as the price of $400 but the structure does not look right so we would say if we bought them here it would be aggressive because AAPL could roll back over to $398 today.