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| AAPL rose $14.03 to an all-time high |
After Apple made its AI announcements and an unimpressed Wall Street knocked Apple stock down by 2% yesterday, I wondered why the experts didn't see the benefits from "Apple Intelligence" that I was seeing ("if I didn't already own Apple stock, I'd be buying some.")
Just before yesterday's close I bought a few Apple call options. Your humble blogger was under no illusion that he was "investing" in AAPL; this was gambling--backing my judgment that Apple's artificial-intelligence strategy was a winner--and that the market would come around to this point of view very soon. Whatever the result, I intended to get out of the position by the end of the week.
Within 24 hours various Wall Street analysts (not the first take people) published glowing reports on Apple's strategy, and the stock rocketed up $14 to an all-time high. I sold my position and made enough $$$ to pay for the iPhone 16 that will be issued later this year.
Buying and selling options successfully is more luck than skill, but I am chortling anyway.
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