“Nic Chahine thinks that even though Apple Inc was re-weighted from 25 percent to 12 percent on indices, traders and investors are still using it as the tail that wags the dog,” Brianna Valleskey reports for Benzinga. “”
“Chahine is an options expert and the author of Create Income With Option Spreads, and he recently joined Benzinga’s #PreMarket Prep to talk about how traders profited from the Apple flash crash last week,” Valleskey reports. “Chahine said that Apple had no business in rallying leading up to the flash crash December 1. He said there was nothing new, but people still bought it up against resistance for weeks.”
Valleskey reports, “‘My thought on Apple is they walk the price up in order to profit on the indices side, and then they dump Apple and are out,’ he said. ‘They double their profits. They use these big tickers that can move indices.'”
Read more in the full article here.
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