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Call Options on AAPL on 3/18/2016

Bullish Cup & Handle on AAPLApple Inc. (AAPL) designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, education, and enterprise and government customers worldwide.

The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications. It offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers.

The company also provides iLife, a consumer-oriented digital lifestyle software application suite; iWork, an integrated productivity suite that helps users create, present, and publish documents, presentations, and spreadsheets; and other application software, such as Final Cut Pro, Logic Pro X, and FileMaker Pro. In addition, it offers Apple TV that connects to consumers’ TV and enables them to access digital content directly for streaming high definition video, playing music and games, and viewing photos; Apple Watch, a personal electronic device; and iPod, a line of portable digital music and media players.

Further, the company sells Apple-branded and third-party Mac-compatible, and iOS-compatible accessories, such as headphones, displays, storage devices, Beats products, and other connectivity and computing products and supplies. Additionally, it offers iCloud, a cloud service; AppleCare that offers support options for its customers; and Apple Pay, a mobile payment service. 

Shares have formed a bullish "cup and handle" ahead of the Company's March 21st event. The company is expected to unveil a new iPhone, iPad and improvements to Apple Watch. We expect higher share prices for this stock.

We will be trading April 15, Call Options.

52-Weeks Trading Range: $92.00 - $134.54

Last Trade: $105.50

Trade

  • Buy 1 April $105.00 Call at $2.85
  • For a net debit of $2.85

Profit/Loss Analysis

  • Breakeven at $107.85
  • Maximum profit is unbounded
  • Maximum loss is ($285.00) at strike of $105.00

Closing Summary

  • Sold 1 April $105.00 Call at $5.50

Position closed on 3/30/2016 at price of $5.50 with a 92.98% gain in 11 days.

Updates

3/30/2016 9:46:43 AM

Taking profits on AAPL April 15 $105 Call Options. Closed at $5.50. Most likely stock is heading higher but we are locking in profits.

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