Options Action: Apple
With technology down about 5% in the last 5 days, how should you trade Apple, arguably a tech stock with torque.
If you're long Apple and want to protect your position Dan Nathan suggests a collar. Following is his trade:
-Sell the (AAPL) Jan 330 call at 6.00 and use the proceeds to
-Buy the (AAPL) Jan 280 Put for 7.80
How Dan's Trade Protects Apple
Profit up to $330
Losses below $302
Protected below $280
Learn more about this trade. Watch the video now!
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Trader disclosure: On November 16th, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (BAC); Seymour is short (FCX); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman owns (BAC); Finerman owns (JPM); Finerman’s firm owns (WMT); Finerman and Finerman’s firm owns (JCG); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (IJR); Finerman's Firm Is Long Russell Puts; Finerman's Firm Is Long S&P Puts; Pete Najarian owns (BAC); Pete Najarian owns (SLV) and call spreads; Pete Najarian owns (CNI); Pete Najarian owns (F) Bonds; Pete Najarian owns (FIRE)
For Simon Baker
Baker owns (AAPL) for clients
Baker owns (ANN) for clients
Baker owns (BAC) for clients
Baker owns (C) for clients
Baker owns (RIMM) for clients
For Mark Chandler
For Anthony Scaramucci
Scaramucci and SkyBridge Capital own (COH)
For Dan Nathan
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