Check out AAPL April 09 45 puts at $3. Sell the put, worst case buy AAPL at 45?
Short-term, if I’m right about the rally, then a RISKY bet is that AAPL goes higher. Personally, I bought it at $91.5 on 10/08/2008 then dumped it at $100.
Apple’s TRAILING P/E is about 20. Did you notice the world “trailing”! I wanna know AAPL’s FORWARD P/E for the case of trying to sell NON-essential products like iPods IN A DEPRESSION, plus lets factor in Steve Jobs could die any day (which would be a horrible day for the World to lose such a visionary man.)
I say let AAPL stock shoot itself up to whatever it reaches when the S&P500 tops out this fool’s rally at about 1100 or 1200 (optimistically). Then short AAPL.
I think you ARE correct that we’ll see AAPL under $50 before the end of 2009.
My favorite play of the week?
I bought Goldman Sachs at $81.5 and sold it two days later for $123. I don’t get the chance very often to outsmart Warren Buffet, who recently paid a much higher price for his GS!
