Mike Shorr joined Schwab Network to talk Apple, but this time, he wasn’t picking a direction.
In this clip, he walks through why he structured the trade as an iron condor, what he thinks is capping Apple right now, and why he’s not worried about the rest of the market’s rough morning.
Mike covers:
- Why he skipped a directional call or put on Apple and structured this trade as an iron condor instead
- The exact strikes he sold on both sides and the reward-to-risk ratio he’s willing to take
- What he thinks is capping Apple from running back above its old highs, at least for now
- Why oil spiking and stocks sliding across the board didn’t change his read on the market
- The one-line rule he’s used for six months to decide when to fade a scary headline instead of react to it
