The Wall Street Journal (paid subscription req’d) is reporting that Apple’s five percent stock drop is partially a result of increased competition for the iPod.
Option traders positioned for movement in red-hot stocks like Apple Computer Inc. as investors took a cautious tack ahead of today’s employment report.
Options on Apple Computer traded robustly after rival online-music provider Napster Inc. raised its revenue estimate for the current quarter, citing robust growth in its music-subscription service.
This raised concern that Apple’s popular iPod music player may be facing greater competition, and Apple’s stock fell $2.33, or 5.3%, to $41.79 yesterday. The March 42.50 puts traded 28,911 contracts, and gained $1.15 to $1.80 at the International Securities Exchange. Apple’s March 42.50 calls traded 25,842 contracts, and fell $1.25 to $1.15 at the ISE.
The Wall Street Journal (paid subscription req’d) is reporting that Apple’s five percent stock drop is partially a result of increased competition for the iPod.
Option traders positioned for movement in red-hot stocks like Apple Computer Inc. as investors took a cautious tack ahead of today’s employment report.
Options on Apple Computer traded robustly after rival online-music provider Napster Inc. raised its revenue estimate for the current quarter, citing robust growth in its music-subscription service.
This raised concern that Apple’s popular iPod music player may be facing greater competition, and Apple’s stock fell $2.33, or 5.3%, to $41.79 yesterday. The March 42.50 puts traded 28,911 contracts, and gained $1.15 to $1.80 at the International Securities Exchange. Apple’s March 42.50 calls traded 25,842 contracts, and fell $1.25 to $1.15 at the ISE.
