Date: 8/28/2020

Company: Apple

Symbol: AAPL

Summary:

• Earnings Date: Currently set for 10/28
• Options Play: AAPL 11/20 $135 CALL
• Entry: $7 - $8 (post-split)

Suggested Strategy:

Open 3 positions on Aug 31st.  Market will be volatile due to first day of split.  Exit 1 position starting at $16 to reduce risk to $800.  Exit remaining two positions at $27 before expiration.

Order Details

• Action: Buy to Open
• Symbol: AAPL
• Quantity: 3 contracts
• Expiration: Nov 20
• Strike: 135
• Type: CALL
• Limit price: $8.00

Stock Target Price: $150 - $162

Total cost of trade: $2,400