Apple is trading significantly higher today on back of the news that Google docs will now be made available to edit on the Ipad and the Iphone will start selling China this week. The stock is up nearly 3% and the 300 Oct call has nearly doubled today. With 4 weeks still remaining in the expiration of this option, I think there is plenty of room to make money here. Do I think Apple will cross 300? Maybe, maybe not. But remember, it does not have to do that for us to make money. We will take advantage of the "time-value" of the option and leverage any further upside moves in the stock (and hence the option) to profit from it. I think a run to $290/share is very likely this week alone which could result in another 30-50% move in this specific strike. For those of you still hesitant from spending $2.20 on the 300 strike can go after the $310 strike for just under $1. This is definitely also going to show strength if the apple touches or clears 290 this week. Many apple investors have been waiting for this move. The stock not only cleared its 52-week high, it blew past it signaling a very bullish trend that many believe can take the stock to well over $300/share (inching closer to the analyst price targets that go as high as $360+). I'm not the only one that is suggesting a bullish trend on the stock to continue. We had over 100,000 options trade on the call-side in apple with the 300 strike as the most active with over 30,000 contracts alone!
Ok, guys, here's our chance to get in on apple at an extremely low entry point with a very bullish signal in place. Let's take advantage of this and get on the bandwagon.
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