Does Apple Have Another Rumor On Options Expiration Week?
Yesterday, Apple Inc. (NASDAQ:AAPL) saw a surge up, one of the few up moves in recent history. This came during options expiration week where rumors always fly. The reason for these rumors is to adjust stock prices to levels where options expire worthless, thus maximizing profits for the institutions. After the pop yesterday, Apple has fallen lower again today. It is trading at $431.54, -6.33 (-1.45%). The big question must be asked, will another rumor pop the stock today or at any point the rest of the week?
Based on history, the answer would be yes. This is simple. If an institutions popped it yesterday, and those gains have slipped prior to options expiration Friday, it is likely another rumor will pop it later this week. Stay tuned, options expiration trading is always fun!