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FSN: Short in Apple with Little to Fear
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Rick Ackerman
RickAckerman.com
Looking for a cheap, low-risk way to play a $600 stock that can lurch and careen all over the place on any day? We’re talking about Apple, of course, and you needn’t fear the stock if you use puts and calls judiciously and follow some simple rules. Yesterday, for instance, Rick’s Picks suggested calendar-spreading some far-out-of-the-money puts to establish a moderately bearish position. Although we’ve been quite bullish on the stock and remain so, it may have gotten ahead of itself with the nearly 20% gains achieved so far in August. Accordingly, when AAPL spiked yesterday morning to a new all-time high of 675, it seemed like a great opportunity to buy some put calendar spreads at the 620 strike, well below current levels. Specifically, we recommended buying the December 620 – October 620 put spread eight times for $14, or $1400 per. This strategy is not outright bearish on Apple; it merely leverages the possibility that the stock is overdue for a nasty
Continue Reading at RickAckerman.com…
2012-08-21 23:02:34
Source: http://silveristhenew.com/2012/08/21/short-in-apple-with-little-to-fear/
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