How One Trader Will Play Apple's WWDC Given 'Low Expectations'

Scott Redler is a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

Scott Redler, chief strategist at T3Live, told Benzinga's #PreMarket Prep on Monday that he has low expectations for Apple Inc. AAPL's Worldwide Developer Conference. Though the general "trend is to try to sell Apple on the event," Redler said that this WWDC is not on a "high pedestal," a change from most other Apple events.

Expectations are low, he said, pointing to the fact that rumors have ruled out the possibility of an Apple home, car or TV announcement. Even with low expectations, Redler said that he would go into the event with "no opinions." That way, he won't be "stuck" if Apple starts moving the wrong way.

Instead, Redler said that he will keep an eye on Apple's 50-day moving average, which he said was near $127.91, as well as support at $128.36. If Apple breaks that support and bounces off that 50-day moving average "with authority," Redler indicated that he may look to buy the stock.

However, Redler cautioned that Apple has been a "sluggish stock recently." It performs best, he added, when the price leads the market, as opposed to the opposite.