Trade Alert: AAPL

Not much of an "Alert" since the market is closed, but to no surprise AAPL has flipped Short. I'm buying the July $170 puts in the portfolio, trading at around $10.

Here's my thought process on these puts: If you look at the chart below you can see a spike low at $150 made in the mini-crash in early February. That low needs to be tested, in a month, or two, or three (or in day the way things fell apart near the close of today's session). If $150 is tested those puts will be at least $20 in the money, so buying them at about $10 would generate a 100% gain. Not bad for a few months of waiting while this signal unfolds. The stock options' portfolio now has expirations spread out from April to July, giving us good time diversification. 

SQ remains the only Long left in the portfolio.This market is gaining momentum on the downside and the portfolio is right where it needs to be to maximize returns. Expect SQ to fall soon.