Apple Inc (NASDAQ:AAPL) bull puts sweeping the market

Looks like Apple Inc (NASDAQ:AAPL) bull puts is the trade that Wall Street is all embarking on. The iPhone 12 catalysts is potentially about to start driving AAPL stock price higher and recover from yesterday’s lows.

The company has yet to announce when the release will be, but rumors point to October 13 for now. I like this trade a lot and think it’ll make it’s way back toward $120 soon.

Overall market weakness has definitely weighed on it. Yesterday for example, at the open, it was $112, this morning as I type, $105, so big movements here still with the ATR above $5.

Right now it’s just very choppy. Traders will be on the sidelines this morning regarding new positions to see how the market handles this weakness and take it from there. Right now the VXX, UVXY just really isn’t participating, which is definitely odd given all the selling, but makes me think there’s not a lot of fear in a larger pullback, but of course, anything can happen so we’ll just have to see.

If there’s buying out there today after the gap lower, Wall Street may go back to names like AMZN and TSLA to sell puts, otherwise time to probably sit on your hands today.

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