AAPL may be correcting an initial impulse move from the 14 Mar trough.
Likely wave c has further downside next week, and will be followed by a five wave advance.
Fib extension drawn from 14 Mar trough to 4 Apr peak to the .618 retracement. 61.8% target = 179.60, 100% target = 190.87, 127.2% target = 198.89, 1.618% target = 209.10.
A 195/200/205 Call Butterfly expiring 20 May is a cost effective way of speculating on this potential upside move. Whether the next advance is a wave 3 or a wave c has some potential for profit. If the pattern fails then the cost is much less than purchasing a naked call and capital would be protected.
Likely wave c has further downside next week, and will be followed by a five wave advance.
Fib extension drawn from 14 Mar trough to 4 Apr peak to the .618 retracement. 61.8% target = 179.60, 100% target = 190.87, 127.2% target = 198.89, 1.618% target = 209.10.
A 195/200/205 Call Butterfly expiring 20 May is a cost effective way of speculating on this potential upside move. Whether the next advance is a wave 3 or a wave c has some potential for profit. If the pattern fails then the cost is much less than purchasing a naked call and capital would be protected.