tide easing out before the 1pm ET AAPL storm drops from the tree

[tommcginnis]

[so, like, how many analogies can *you* abuse??]

Well, in ES futures land, the volume and the motion looks pretty sketchy.

My read? A big ol' calm before the AAPL storm, and most probably a material jump higher. (Like, another 1% across-the-board day, fercrisakes.)

I *ain't* looking forward to it. I'm getting *crushed* on top; vol is shit, *and* the shit-e-vol will likely get worse at 1pm.

Right now, I'm trying to act on my convictions. If this is like a FED day, I've got about an hour before the market pretty much shuts down.

What are *you* doing?

 

[tommcginnis]

Whoops. Should've offered, "Yipes!" as a response. That would be my choice.

 

[athlonmank8]

A bit surprised it sold off so hard at the open. Hasn't bounced much. Probably not a good sign.

 

[tommcginnis]

A bit surprised it sold off so hard at the open. Hasn't bounced much. Probably not a good sign.

You know what? I haven't even watched it! SHEEEESH.
I'm all SPX-ish, so I guess that's okay, but that should've been my number one move, right?
Okay... big Fail on that one.

90 minutes to go.

 

[CrashProof]

Look at the Monthly.. I'm long Jan 130 Puts

 

[MrMuppet]

Prolly same old "sell into keynote" game, that's played in like every AAPL keynote since first iPhone. Nothing to see here...

 

[SteveM]

2 consecutive overnight gap-ups on the daily /ES chart.....the 2nd one nearly always closes...need to get back down to 2487 to close it. Will likely get there at some point this week.

 

[SteveM]

Link to youtube live stream of Apple iPhone 8 unveil

 

[SteveM]

I'm not overly impressed with the iphone8 presentation so far, seems like a rehash mostly.....will have see if Cook reveals the rumored $1000 X model later....if not, could definitely be a "sell the overhype" trade.

 

[atrp2biz]

I was already short premium going into today (October monthly), but added a short 160/162.5 September 15 strangle for a credit of $3.11 as I felt the premium was a little rich.