What exactly motivated me to plan this trade?
I had noticed a nice gap in Apple, and knew it was going to be filled sooner or later. I also felt there was better than even odds the stock would go down after that. Once I got the alert on Gap fill, I placed the pre-planned order. When I check the stock quote at the end of the day, it was disappointing to note that Apple had closed higher (and my Puts had eroded in value). That Apple did not match the market's move in percentage terms was, but, a small consolation.
There is a fair amount of support at 353.01. If we break that, it should be fun!
While those stuck with a huge long position in Apple would argue Steve Jobs' exit should not make a difference, we're going to find out tomorrow what exactly is the Steve Jobs' premium. For to turnaround a company in its deathbed, and in 18 years to make it the biggest marketcap company in the world is not something to be repeated in our lifetime.
