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Consider This Longer-Term Apple (NASDAQ:AAPL) Trade


Apple will stay or grow through the end of the year.

Options traders today switched to a slightly more bearish sentiment. The Jan 13 ATM implied volatility sits at 27.1, while the ATM straddle is priced at $85.63, implying the stock will move more than 12% by the New Year. The open interest in calls are bull biased with the most open interest ATM, while open interest in puts has its largest open interest at the 670 strike price.

My trade is to buy the Jan 13 670-720 call spread for $25. This trade is a 50/50 risk ratio with risk at $25 and reward at $25 or $2,500 per one lot. My breakeven is halfway between my spread at $695.

No positions in stocks mentioned.
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