Update on AAPL Options
We’ve been tracking AAPL pretty intensively over the past couple of weeks, beginning on the 14th of this month. What has followed has been a very impressive uptrend, as we’ve witnessed a move in the stock from a low of $588 to this morning’s pre-market high of $639; that’s a 50-point move in just a couple of weeks.
Between the Beats rumor, the fact that AAPL has a forward split coming, and the approach of a new iPhone which will reportedly boast a larger screen, it seems there is a lot of speculation in the air, and we’ve done well in using it to our advantage.
Last week, we were afforded the chance at percentage increases in the hundreds and thousands from Calls in the $605-610 range, and with the continued uptrend exhibited by AAPL this week, the opportunities were still ripe for the picking in some of the pricier contracts. For example, the $627.50 Calls ran from a low of 1.97 on Wednesday, to a high 9.80 during yesterday’s session, an overnight gain of up to 397%, and appear to be gapping up even further this morning.
In the event of a sustained uptrend in AAPL, we’ll be monitoring the $635-640 Calls, making sure to keep our strike price relatively close to the money.
Orofino Gold Corp. ORFG
ORFG turned out to be a good call for us as the main feature of yesterday’s report, as the stock came down to a low of .0175 in the morning, before showing us a high .0249 shortly before the close. That equates to a solid 42% intraday gain for this bottom play.
We observed higher highs and higher lows in ORFG, and it managed to maintain well over half of those gains into the close (.0229), so we’ll continue to keep an eye on this play moving forward.
The company signed a couple of LOI’s this month, so we’ll be interested to see how those pan out as well:
- Bakken Energy Corp. (Orofino Gold Corp.), Subsidiary Nations Oil and Gas Signs Letter of Intent to Create Joint Venture with Indigo Resources, Ltd. (Thu, May 29)
- Bakken Energy Corp, Subsidiary Nations Oil and Gas Signs Letter of Intent to Acquire Green River Refinery in Utah (Thu, May 15)
FLST, PLX, OPTT, ARRY, NEWL, DARA(Gapping down, potential bounce?)