Fast Action: Playing Apple Ahead of iPad

How should you place your bets on Apple ahead of the iPad release?

Mike Khouw of Cantor Fitzgerald suggests playing it with options!

Here’s the trade:
With Apple at $224
Buy July 220 Call @ $18.25
Sell July 230 Call @ $13.25

Profits Above $225
Profits Capped At $230
Losses Below $220

Want to learn more about this trade? Watch the video now!

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Trader disclosure: On March 17th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Is Short (SPY), (IWM), (MDY), (IJR), (SPY), (USO); Finerman's Firm Owns (IYR) Puts; Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm And Finerman Own (GOOG); Finerman's Firm And Finerman Own (JPM); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (TJX); Seymour Owns (AAPL), (BAC), (BX), (F), (GE), (TSO), (XOM), (SSL); Najarian Owns (AA) Calls; Najarian Owns (BAC) Call Spread; Najarian Owns (C); Najarian Owns (F) Calls; Najarian Owns (GE) Calls; Najarian Owns (TSO) Calls; Najarian Owns (YHOO) Call Spread; Terranova Owns (QCOM) April Calls; Terranova Owns (TER); Terranova Is Short (AMR); Terranova Is Short (UAUA); Terranova Is Short (CAL); Terranova Is Long Dec. 2010 Crude Oil Futures; Edwards Owns (AAPL) For Clients; Edwards Owns (BAC) For Clients; Edwards Owns (CVX) For Clients; Edwards Owns (GS) For Clients; Edwards Owns (GE) For Clients; Edwards Owns (JPM) For Clients; Edwards Owns (MSFT) For Clients; Edwards Owns (NKE) For Clients; Edwards Owns (PG) For Clients; Edwards Owns (QQQQ) For Clients; Edwards Owns (SPY) For Clients; Edwards Owns (SNE) For Clients; Edwards Owns (WFC) For Clients; Edwards Owns (XOM) For Clients

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For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (GOK)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLI)

For Michael Pento
Pento And His Clients Own (SQM), (EGO), (IAG), (PWE)

For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (AAPL)

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