Intermediate Trade: Apple

Well, I was right about one thing: Apple (AAPL) vol was too cheap into earnings. I was just dead wrong on the direction. However, this has created some opportunity in the name as I think there may be a trade developing.

Coming out of earnings, AAPL vol got completely crushed, despite the outsized move in the underlying stock. In fact, they are now pricing AAPL premiums like the stock is going to move like it did during periods when the shares were grinding higher, not dropping twice the price of the earnings straddle....140 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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