With the goal of legging into bullish ‘butterfly spread’ in Apple, we took a close look at the stock’s intraday charts as well as the options grid. AAPL was trading for around $530, but our strategy was tied to expectations of a quick rally to at least $600. Under the circumstances, acquiring a January 590-600-610 butterfly makes sense. Our goal is to do this at no cost, or perhaps even for a small credit, leaving us with no risk. Is this possible? Indeed it is, for reasons that should be clear to you after you’ve reviewed this recording.
