> In a flight to safety, Apple shares may actually go up instead of down. Unlikely. AAPL may outperform in a flight to safety (which is different from going up

> In a flight to safety, Apple shares may actually go up instead of down. Unlikely. AAPL may outperform in a flight to safety (which is different from going up). But the sheer amount of gamma that has squeezed AAPL suggests this may not be the case. A huge chunk of NDX is in a technical bear market, with the index held up by a few names. It’s very likely that in the next downturn, AAPL underperforms.