Well, pre-market, things were looking awfully grim for the ol’ short-dated AAPL puts:
For once in my life, I heeded my own advice. Reflecting upon what I wrote in Boiling It Down, I reflected upon the second rule: “An EXIT is based on the violation of that rationale OR a discrete profit rationale”. The rationale (the price gap) was not violated, so I didn’t touch it.
Well…………
At the moment, we’ve got a good-looking bearish engulfing pattern on AAPL. I would also mention that Apple’s much-anticipated product announcements are tomorrow morning, which I’m guessing is going to be a nauseating nothing-burger.
Glad I listened to myself, for a change.
