Apple Stock Shows Indecision With More Rate Hikes Left On The Table: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
Apple Inc. (AAPL) stock showed indecision after Federal Reserve chair Jerome Powell indicated that more interest rate hikes are possible. The stock briefly fell under Thursday's low on Friday. If Apple trades higher on Monday, a new uptrend may be on the horizon. However, if it falls lower, the trend could continue downwards, increasing stock market volatility due to Apple's weight in the S&P 500. Traders can trade the potential volatility with options like the ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) and ProShares Ultra VIX Short Term Futures ETF (UVXY).
August 25, 2023 | 5:05 pm
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Apple's stock showed indecision after hints of more rate hikes. If it trades higher on Monday, a new uptrend may be possible.
The potential for more rate hikes has created uncertainty around Apple's stock. If the stock trades higher on Monday, it could indicate a new uptrend. However, if it falls, the trend could continue downwards, potentially increasing market volatility due to Apple's weight in the S&P 500.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Traders can trade the potential volatility in Apple's stock with options like the ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY).
The ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) is an option for traders to trade the potential volatility in Apple's stock. The ETF seeks to move 1.5% for every 1% daily movement in the SPIKES Futures Short-Term Index.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Traders can trade the potential volatility in Apple's stock with options like the ProShares Ultra VIX Short Term Futures ETF (UVXY).
The ProShares Ultra VIX Short Term Futures ETF (UVXY) is an option for traders to trade the potential volatility in Apple's stock. The ETF tracks the movement of the S&P 500 VIX Short-Term Futures Index.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50