the down hype got even louder than the up hype....... Negative drama sells more advertisements, attracts more eyeballs.... If you watch the financial media, AAPL became Greece. Greece with no debt, over 1/3 of their market cap in cash and a single digit multiple......
I think aapl calls became cheap because everyone (institutions), the big herd, all wanted to sell them..... Selling appl calls became the crowded trade with institutional call selling dwarfing retail call buying..... So now you get a huge short covering rally because of all the calls sold.....
AAPL and SPY used to have a strong correlation.
With AAPL market cap down this correlation is getting weaker.
In any case my stock market (coal mine) canary is
** I Know First algorithmic system** signaled to sell AAPL
on October 15