Call Spread on AAPL on 11/11/2020

Apple Inc. (AAPL) designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services.

The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

It also provides AppleCare support services; cloud services store services; and operates various platforms, including the App Store, that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts. In addition, the company offers various services, such as Apple Arcade, a game subscription service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV+, which offers exclusive original content; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property.

The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It sells and delivers third-party applications for its products through the App Store.

The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers, wholesalers, retailers, and resellers. Apple Inc. was founded in 1977 and is headquartered in Cupertino, California.

With the announcement of its new M1 chip for its laptops, sales next week should drive share prices higher.

Trading a Call Spread on November 27th

Entry Point: $116.00

Trading Range: $53.15 - $137.98

Trade Buy 1 November $115.00 Call at $4.75 Sell 1 November $122.00 Call at $1.36 For a net debit of $3.39 Profit/Loss Analysis Breakeven at $118.39 Maximum profit is $361.00 at strike of $122.00 Maximum loss is ($339.00) at strike of $115.00 Closing Summary Sold 1 November $115.00 Call at $3.50 Bought 1 November $122.00 Call at $0.00

Position closed on 11/30/2020 at price of $3.50 with a 3.24% gain in 19 days.

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