From the floor of the CME group Dan Passarelli, CEO of Market Taker Mentoring, discusses a trade in Apple (AAPL). Apple had a 7-1 split a few weeks ago. It was in the low 90's and has been climbing higher since then. Much of the interest in Apple is from retail traders and less professionals, meaning psychological levels are more important in this stock. There is a great deal of open interest at its par level of $100/ share. Passarelli says buying a call is not a good idea because even if the stock rises and implied volatility goes down, the investor would still lose money. Passarelli suggests using a butterfly instead; he likes the $97.14, $100 and $102.86 calls. He says an investor can buy these calls for around $.40 but can make four times the amount of money they invested if the stock trades around the par strike price of $100, which is what he expects to happen.