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A Classic Apple Story ... or ... An Apple Story In Disarray

It's Thursday after the close. 1) This is how Apple closed. What I am showing is it's five day chart. 2) Here are it's Calls and Puts on one series of options that expire tomorrow. We are also showing the 262.50 series of Calls and Puts. ......... 3) Look at the price increase on the Puts today. This was a day when the D.J.I.A dropped 669 points on the day. These Calls now look cheap to me, but who needs to be in a game like this? There is no tommorows after one day options. Most short term option traders avoid the stress of holding last day options going into the final day of their trading. There will always be new action in tomorrows trading session. Let's watch and see what happens.
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Boeing Calls Monday and Tuesday

Why am I hung up on writing about options on Boeing? Here is why. Here is how the markets are trading today (a Monday) minutes before the closng bell.
It's a strong upwards trading day after a 600 point drop on Friday. Now it's "one-day" trading chart.
Now here is how the Call options traded / closed on the day.
This chart in red ink shows a rebound that lasted the entire afternoon. That's the type of rebounds to look for, rebounds that are not complicated. Did Tesla sell off around 11:30 a.m.? Yes.
Many other stocks opened strong and stayed strong as the DJIA shot up 585.00 points on the day with a super strong closing. Playing Boeing options is both an exercise in trading Boeing and an exercise of trading the strenght in the overall markets. .......................................................................................................................................................................................................................................................................................... Now for part two of this blog. A look the next day, Tuesday's action. This time the DJIA was down slightly on the day.
Now here is it's one day trading chart.
Now here is how the Call options traded/ closed on the day. Interday the 220 series of Calls almost doubled in price again! This time the volume of trading in the Calls was down about 40% from the previous day as the strenght in the DJIA was somewhat mutted.
Now the trading action in the Calls during the day. It looks the same. Line this chart up with the chart on the previous day!
Let's dissect this time period into even a shorter period of time.
My point is that watching the markets is in part an exercise of looking for chart formations that you feel comfortable trading. With day trading one day charts in conjunction with five day charts is everything. That plus getting a handle on news releases. Now look at Boeing's five day chart.
What's going to happen tomorrow? I never feel comfortable going back to the well for a third time.

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