Bearish -10% gap fill on $AAPL is bad for the whole market

30 באוק׳ 2020

AAPL has the highest weight for the SP500: slickcharts.com/sp500

Either this is the exact bottom with SPY island reversal as support, making a higher low, or the next week's session will drag the whole market down. My play is short dated puts and UVXY calls. My expectation is for IV on puts to rise throughout next week. I don't expect the downtrend to last more than a couple weeks.