On CNBC's "Options Action," Dan Nathan spoke about Apple Inc. (NASDAQ: AAPL) ahead of its big event on Tuesday. Nathan said that the options market is not too excited about the event as it is implying a 2% move in either direction between now and Friday, explained Nathan.
See Aslo: What To Expect From Apple's Product Event On Tuesday
He sees a lot of technical resistance at $215 and if the stock breaks that level it will face another resistance at $218. After that, it might have a straight shot back to $233, said Nathan. He added that a move to $233 would have to happen on earnings event.
To make a bullish bet, Nathan wants to buy the Oct. $215 call for $6.50. The trade breaks even at $221.50 or 3.86% above the closing price on Friday.
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