All signs point lower, most immediately to the 121.31 target shown. If it gives way, look for more selling down to 120.01. Since we still have higher targets outstanding, we can speculate with a bottom-fishing bid for calls if and when the stock gets within 0.15 of the lower target. Specifically, I’ll suggest four call options with two weeks left on them at the 122 strike. You should stop yourself out if they trade for 0.20 less than you paid. While we’re waiting, and to exploit Apple’s evident weakness, we may be able to leg into some ‘free’ put spreads intraday. Stay tuned to the chat room if interested. ______ UPDATE (10:33 a.m. EDT): Apple has mistakenly gone higher this morning, caught in the same short-squeeze that has sent the Dow up nearly 300 points. We won’t try to get in its way.
