Apple (AAPL) rises on Commerce Dept. report

Published: March 28, 2008, 9:39 am

Tags: aapl, apple, investors observer, investorsobserver, options

Filed under: Good news, Apple Inc (AAPL), Options, Technical Analysis, Economic dataApple Inc. (NASDAQ: AAPL) shares are trading higher today after the Commerce Department reported that disposable income and personal savings both rose in February. This has sent the market up this morning, as investors seem to be viewing the news as a sign that consumer spending could make a comeback. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on AAPL.After hitting a one-year low of $89.60 in April, the stock hit a one-year high of $202.96 in December. AAPL opened this morning at $141.80. So far today the stock has hit a low of $141.60 and a high of $144.65. As of 12:45, AAPL is trading at $143.65, up $3.40 (2.4%). The chart for AAPL looks neutral but improving, while S&P gives the stock a positive 4 STARS (out of 5) buy rating.For a bullish hedged play on this stock, I would consider a May bull-put

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