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You bought AAPL puts near the current price? Given their growth in the mobile market, the presence of Steve Jobs, and cash on hand, that would be more of a bet
by comatose_kid 18y ago
You bought AAPL puts near the current price? Given their growth in the mobile market, the presence of Steve Jobs, and cash on hand, that would be more of a bet than I'm willing to take. But hey, the thesis that consumers are going to stay away from Apple Stores this Christmas is reasonable - just not certain enough for me to bet on, especially given Apple's extra-low guidance which would seem take this into consideration.
I made a bit on AAPL calls buying the day before their earnings, and selling the day after (Dec calls, sold immediately after the pop in this market).
- mattmaroon 18y agoLike I said, the puts were based solely on the nosedive the stock will take if he retires or falls ill. Seriously, every time a blog posts a rumor that he's sick it dips 10% with no signs of stopping before they suspend trading. That's happened twice in the past year. I agree with most of what you said, which is why I'll reverse positions immediately after it happens. If it does.