Apple (AAPL) Breaking Out

Love him or hate him, but you can't argue against Cramer who gets the credit for breakout in Apple today.  $215 was stiff resistance and as of this writing the stock is already trading up near $219.  I keep hoping and looking for any pull back to get in, but we can't even get 50 cents pull back since the market opened.  


Normally, I would recommend a simple out-of-money call spread on a breakout, but given only 2 weeks remaining in March options, I think a better risk/reward is thru the following calendar spread:


- Buy to open April $230 calls
- Sell to open March $230 calls


I just filled the order for $2.85 debit.  This is not a volatility play.  The plan is if the stock makes a run above $230, I will close the calendar.  If it doesn't, March $230 calls expire worthless and I'll sell April $240 calls effectively converting it into a call spread.


Good luck!