Apple IncShort
$AAPL Short Covering Rally - Unusual Options Activity
AAPL Viewing today's bounce as a temporary short covering rally, as we were extremely oversold coming into today. As long as Apple has not broken through the downtrend line it's been riding since early November, I'm still bearish for the near term. See chart for a couple possible near term targets. Adding to the bearish near term sentiment, we saw some significant January expiration put buying today with around 37k deep ITM contracts traded at varying strikes for total premium outlay of about 180M.
Note: Informational analysis, not investment advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.