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Morning Brief: Should You Take a Bite out of AAPL?- 9/7/22

The big talk today is the AAPL event, where they will reveal the new Phone 14, that will have the next generation of #AAPL chips. The question is, will this be enough to give the stock a boost? The stock rallied hard, getting close to its 52 week high before the Fed announced the pain. Since they the stock has dumped quite a bit, sliding 20 points from 178 down to 154. Analysts have moved into protection mode, citing that the new play is MATANA, dropping Netflix and Facebook(META), from the much touted FANG .


Hedge Funds have started to really hammer into shorts, with Goldman showing future shorts at an all time high. However, hedge funds have taken market shorts but are pairing them with single stock longs, specifically into this new MATANA variation, which is Microsoft, AAPL, TSLA, Alphabet, NVDA, and AMZN. These are companies that have a high cash flow and strategic market positions.


TRADES:


#AAPL: Continues to drop but premiums are still low so there isn't much wiggle room for trading options here.


#CMG: Had some large swings, and I continued to add strangles while selling off some positions as I tapper down closer to the strike price.


#TSLA: Was one of the few stocks finishing up , after analyst buy ratings with a price target of $333. I added more sold calls and puts, and bought some to create better credit spreads with multiple final stock strike prices to gain on both sides of the trades.


#BITCOIN is free falling again, dropping another 5% into the 18.7K price range. This year has seen a huge drop of crypto billionaires who were too incompetent to hedge as they don't know how to trade and just gamble on the coin. Over a trillion of market value has been lost in the crypto space and more value will continue to shave off.


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