Well, the old "sell the news" is sure holding true with Apple. Especially if the news is that they just cut 33% off their most cutting edge product :)
Still, long term, this seems like the move that they should have done back in the days of "Intel" vs. "Mac". They are smartly cutting their prices down to compare to everyone else and when you cost the same and are far cooler and better then you generally win :)
So, I'm waiting a bit for the down-momentum to subside, but I plan to buy a few long options on Apple as the price will likely rise back to 145 prior to earnings. I'll probably hedge with a "spread" so that my costs and loss potential are mitigated.
God bless!
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