Mike Shorr went on Schwab Network with Apple (AAPL) down hard after a Jefferies note pushed shares below a key support level. He walks through why he skipped the calendar and the iron condor entirely for the put spread he used instead.
Mike covers:
- The support level that broke and turned his AAPL outlook bearish before the trade even started
- Why he passed on a calendar or iron condor here, even though volatility looked fair
- The exact put spread strikes and expiration he used, and the reward to risk he’s got on it
- What he’s watching heading into a heavy week of economic data
- His read on what a soft inflation print would mean for the rate path
