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Winner: 12.32% Gain On AAPL Calls

Mar. 17, 2021 1:24 PM ETApple Inc. (AAPL)
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  • Bought the AAPL 21MAY21 120 calls on Mar 1 and Mar 8 for an average cost of $9.66.
  • Sold the calls on Mar 16 at $10.85 for a gain of 12.32% on the trade.
  • 10% portfolio allocation.

I bought the initial AAPL calls on Mar 1 when I received a bullish buy signal (price bar turned GREEN) - this turned out to be a false signal, as the shares dropped the next day, and kept dropping for the next three days. 

I added to the calls on Mar 8 when the shares dipped below the $118.00 level - this was the bottom of the sell-off. 

Sold the calls on Mar 16 when the share price came up against the falling 20MA - this often acts as resistance. 

This was a bit of a broken trade because of the initial false buy signal - but adding to the position allowed us to get out unscathed. 

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