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Apple beats and limit up we go.

Apple beats and limit up we go.

Despite this week’s evidence of further societal collapse and descent into chaotic anarchy, the US is back and booming baby.

RIGD REPORT
May 05, 2023

Apple beats and limit up we go.

The United States of America is back and booming baby.

Unemployment came in at 3.4%, the lowest level since May 1969 when this was the most popular song on the radio.

253,000 jobs were added last month beating estimates by 36.76% and hourly earnings went higher month over month and year over year.

So….

Despite this week’s evidence of further societal collapse and descent into chaotic anarchy:

Shocking video shows NYC subway passenger putting unhinged man in deadly chokehold [ nypost ]
Suspect Caught After Killing 1 and Injuring 4 in Atlanta Shooting, Police Say [ nytimes ]
Georgia man fatally shoots 3 women, including his McDonald's manager, before killing himself, authorities say [ cbsnews ]

The economy is showing zero signs of slowing down, there’s no recession in sight and Powell will put his name in the history books next to Paul Volcker for navigating a soft landing.

Theoretically wages and employment going up would seem to be inflationary because more money means spending on stuff but since these reports get revised for accuracy all of the time - we’re not sure it means anything except stocks go up.

Tim Apple does it again stock up +4.83%

Apple beats on revenue, earnings, and margins. Sales were down for the second consecutive quarter, but it was iPhone revenue coming in at $51.33 billion vs $48.84 billion that’s moving the market.

Let’s look back at what we saw and evaluate how it played out in the options market.

Yesterday:

The implied move is +/-3.8% with the highest open interest in the $175 call and $162.50 put. We dug into the option flow today it’s trending bearish notably someone sweeped 3000 $150p at the ask, then about fifteen minutes later that same someone or a new someone sweeped 1020 x $165p and 2000 x $150p within 30 seconds.

Monday:

This will change significantly from now until Friday, but the flow is bullish and it looks positioned for Apple to make a move up. The open interest for the highest OI call is ~ 128% higher than the $167.50 put. We’ll send the robots in to watch for anything out of the ordinary.

They’re pounding the over today with the 170 call seeing 32 orders with 2.11m in premium and the 175 call 15 orders 1.18m in premium.

The flow starts bullish and ends bearish before earnings drop. Calls melt, retail switches to buy puts and then puts go to zero. Order flow is challenging to view and even more difficult to understand. Were the sweeps a hedge because the 165p and 150p are all down… -99.99% today?

Maybe this was the other end of it:

13:43:49 $AAPL 167.5c swept at the bid for 11,816 contracts and 3.54m in premium

Spending 3.54m in premium for an option that expires the next day is quite risky!

Bought at 3.00, these opened today at 4.25 (41.66%) and traded up to 6.70 (123.33%)!

Someone always knows something…

(and that’s why we’re building RIGD)

Car Vending Machine Business is BACK

The market’s most shorted stock $CVNA is up +31.74% today because they’re going to report a profit in the second quarter and in the PVP world of trading everyone loves a good opportunity to squeeze.

Shares are now up 102.12% year to date while down -82.88% year over year.

Someone ask ChatGPT what kind of return we need from buying the all-time high at $375.

[ yahoo ]

Week summary:

The tightening cycle is over. Banks will get bailed out. Mania has returned to the markets (don’t look at $PEPE).

There’s not much bullish news left which means we’ll probably keep going up.

Apple beats and limit up we go.

Despite this week’s evidence of further societal collapse and descent into chaotic anarchy, the US is back and booming baby.

Apple beats and limit up we go.

Tim Apple does it again stock up +4.83%

Car Vending Machine Business is BACK

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