Rotten Apple
After 9 straight monster green days Apple is up approximately 17%. This feels like panic buying and/or chasing the market's breakout rally. Today Apple showed signs of slowing down, and volume has been tapering off as less and less buyers are willing to continue to push this price up. I bought several tranches of Apple puts dated from mid-April to late May. I do not expect Apple to break over 176ish, but if it closes above $176 will be exiting my positions. I'm eyeballing a potential pullback to 165ish, but have seen a few calling for mid-150s. I likely won't hold that long but will evaluate depending on how next week goes.
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