Dan Nathan's Apple Options Trade

On CNBC's "Options Action," Dan Nathan spoke about Apple Inc. AAPL ahead of its big event on Tuesday. Nathan said that the options market is not too excited about the event as it is implying a 2% move in either direction between now and Friday, explained Nathan.

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He sees a lot of technical resistance at $215 and if the stock breaks that level it will face another resistance at $218. After that, it might have a straight shot back to $233, said Nathan. He added that a move to $233 would have to happen on earnings event.

To make a bullish bet, Nathan wants to buy the Oct. $215 call for $6.50. The trade breaks even at $221.50 or 3.86% above the closing price on Friday.