On Thursday morning, we recommended a stock options trade on Apple (AAPL) - Get Report  that was based on a prediction the technology stock would move higher following an exaggerated selloff in the wake of the company's earnings report.

The specific recommendation was to buy a Feb. 5 weekly call with a $93.50 strike price. As of Friday morning that trade had become profitable.

As noted in the article Thursday, Apple's chart had shown numerous reversal signals, and we looked at purchasing the call option that was closest to being in the money. This concept of proximity is crucial in identifying the greatest opportunities for extremely short-term trades. We also picked an 8-day time to expiration, minimizing the effect of time value. The outcome in a one-day turnaround is a whopping 47.6% net profit.

One hour into Friday's session, that call option could be sold the Feb 5 weekly call with 93.50 strike could be sold around 2.89, or for about $280 after subtracting trading costs. That's a profit of $91 on the original net purchase price of $191.

This trade was a good example of how a well-timed trade with strong multiple chart signals can deliver profits. It combines earnings announcements with a volatile overall market, the best time to employ options to exploit rapidly moving prices.

You see Jim Cramer on TV. Now, see where he invests his money and why Apple stock is a core holding of his multimillion-dollar portfolio. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

Besides blogging atTheStreet.com,Michael Thomsett alsoblogs at theSeeking Alphaand several other sites.He is author of 12 options books includingMaking Money with Option Strategies(Career Press, 2016) and has been trading options for 35 years.Thomsett Publishing Website