AAPL

Handle123 said:
Near close I exited sold Call spreads, put on Aug Put spreads. AAPL held lows for now and TA equals Aug 24, 2015. I will add more when AAPL hits 84.37 then do Dedit spreads, I do average down in options as well and yes well back tested.
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AAPL trade taken on April 29 Put credit spreads never got down far enough for Debit Call spreads, eventually became breakeven plus little for fees and lunch. Then the May 17 I did Aug Call credit spreads, exited today for fees plus lunch and it never got high enough for debit Put spreads. Love credit spreads once you figure them out and willing to do what most won't, just don't bet the farm.

I am still pondering or more like have not be able to figure out trading weeklies for "edge" using them.
 
Fans need to show resilience before they lose their patience.
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Forth time the AAPL is dropping to the $92 level. It it comes close it would have high odds of passing this level without any trouble. Over the past year the AAPL bounces 3 times from this level. First time it bounced 35 %, second time it bounced 22% and the third bounce was 7% only. Each time the AAPL dropped to and below $92 level the bullish trader considered it as a good point to buy the Apple stocks. However with each new bounce, the number of these bullish trader became smaller and weaker.

As Richard Wyckoff says, "all Bullish traders should be shaken off before a dive down" and it looks like this is exactly what is going on on the AAPL stock. If the AAPL drops further closer to the $92 support level, there could be not enough Bullish traders to reverse this stock up. If this level is broken then the next stop is way down around $77 level - this is where the highest trading activity was noted (highest volume was accumlated) over the past 2 years:

20160621aapl.png

chart courtesy of http://www.marketvolume.com
 
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