Currently Apple's stock is trading at $120.50
Apple stock holders have been enjoying a nice rally after the company has reported a blowout quarter and downplayed the worries among some analysts that the company will sell fewer iPhones in China.
The shares of Apple have traded higher once more in the aftermath of solid financial results in the third quarter of 2015. According to a regulatory filing, aside from a substantial year-on-year rise in iPhone sales, the company has also been successful in selling the Apple Watch.
Apple has sold 48.05 million phones during the quarter, a figure which was a bit lower than the expectations of the market for 48.5 million. Despite this, the stock rallied since the company's CEO Tim Cook stated that the tech giant didn't fear a decline in sales in China.
Quite the opposite, the interest towards the iPhone 6s and the iPhone 6s Plus has been substantial in the region. The demand has outstripped supply, albeit the rates of delivery have been better than last year. The company has also announced that revenues from the App Store have increased by 25%.
Looking at the chart we are seeing some opportunities for buying daily calls on the shares of the company. Some conditions need to be met in order for us to get into the market and we will elaborate on those in the following lines.
How to trade
Currently Apple's stock is trading at $120.50. We need to see a small drop in prices just as we have seen before today's open in order to justify a purchase. We would be buying daily call options at $119.75 if prices reach that level tomorrow.