Chart Review: Everyone Has A Whole Apple Again – Bearish Reversal Invalidated
Dr. Duru | Feb 28, 2012 12:18AM ET
February 15 was a day noted around the world: Schaeffer’s Research :
(The put/call ratio is measured using options with less than 3 months left to expiration).
Clearly, skepticism about Apple was running higher and higher with price and/or shareholders were rushing to protect positions. After all, Apple could not buy love as late as November when the put/call ratio was bouncing wildly as the stock struggled near October’s lows. One might imagine that as Apple kept running, put buyers protecting positions finally locked in profits as their puts began to provide little downside protection. Perhaps even the skeptics who were trying to bet on a top all decided at once to provide the blow-off top symbolic of the rush of the “last” buyers finally buying into the rally. Now, even THEY can be relieved…assuming they held on for dear life.
Be careful out there!
Full disclosure: no positions
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