Intraday Play - AAPL

AAPL is a good stock. It has gone up significantly to reach its all time high last Friday. But somehow, it pulled back to form a shooting star on Friday. The shooting star showed that the stock had reached a state of indecision. The RSI and stochastic indicators are on the high side and are already pointing south.
The probability is higher for AAPL to head south before breaking its all-time high again.

Today, AAPL was given an upgrade so AAPL gapped up above Friday’s close. The overall market was weak. It seemed a good setup was being made for shorting. I waited for the stock to go below session low after 10:00am EST before I shorted AAPL.

• Buy to open, Dec 190 Put @$3.65 (when the stock is around $190.17)
• Sell to close @$5.45 (when the stock is around $187.20 - Though it was not at the best prices but it was good enough).
• Profit = $180 per contract or a 49.3% gain for less than 2 hrs play

AAPL could still go down further over the next few days but I just want to lock-in my profit and have a better sleep.

- PersianCat04 (Millionaire-in-progress)