Seeking Alpha
  • emburns
    If $AAPL breaches 560/570, going to be buying 500 June Puts.
    1/2/13
    Reply (9)
    • pocohonta: u want to sell (buy put) when it breaks out to the upside? people usually buy on breakouts. tell me your logic? contrarian play or what?
      1/2/13
    • emburns: The idea that people will continue to pay top dollar for iStuff is absolutely crazy as the US is about to default in two months.
      1/2/13
    • emburns: I wouldn't be surprised that it enters capitulation in late Feb.
      1/2/13
    • pocohonta: Thanks but paying top dollar 4 iStuff is = 'differentiation'. I agree that half-baked Fiscal Cliff solution is bad, but default is unlikely
      1/2/13
    • FortSumter: I agree with Emburns. Wife won an Kindle HD at xmas party. Both her and my kid prefer it to their iPad. Didn't expect that response at all.
      1/2/13
    • Rubenov: Last year AAPL went on a tear during this timeframe, lasting until April. I would be very careful with puts.
      1/2/13
    • emburns: Perhaps, but one of the scariest chart should be the steady decline in volume since '08. A slowdown in economy/possible default..cont'd
      1/2/13
    • emburns: could be the push below 500. I think the default and subsequent market sell off would be the event horizon which shaves AAPL market cap.
      1/2/13
    • emburns: Besides with the VIX where it's at, you're getting vol relatively cheaply.
      1/2/13