SPX Traders Might Not Be Panicking...BUT AAPL Traders Might Be Getting Close

The comment out of many 'pundits' is that the SPX while selling off, has been quite orderly.  I mean,  here we are down 100 points in 4 days and the VIX is barely 25%.  That said,  there is one area of the market that is a bit panicky...aapl investors.  Check out the way AAPL vol has completely outpace the trajectory of SPY IV30 over the last couple of days. (AAPL IV30 in red  SPY IV30 in blue)

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Option Pit Trade Idea of the Week: Bitting a Bad AAPL

Sound did not work, I ended up buying the Oct23 110 put for 1.04 I like it because IV is low and because I think aapl is going to move toward 108 next week. Mostly because its underporforming the market badley
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Content is King Another CHEAP STRADDLE

So far this earnings cycle we have seen big wins in tech out of GOOG, NFLX, and no AMZN.  Flops have come from AAPL, IBM, and MSFT.  Take a look at the pricing of AMZN from today (now up about double the straddle price).


Livevol (r) www.livevol.com

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Heading into earings tonight,  the market was looking for about a 5.50-6.00 move on AAPL earings tonight.  We know its somewhere in that range based on how the weekly strangles were priced at the close on earnings monday vs the prior monday.  The math is pretty simple with out all the extra mumbo jumbo.

Last Monday


Earnings Monday (today)

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