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Based on history, Apple stock could have another monumental month

Tuesday August 2, 2022. 08:30 PM , from Mac Daily News
Apple stock was up an impressive 18.9% in July, still off its all-time high of $182.94, but marking its best month since August 2020. The stock has seasonality on its side and, based on history, could continue to climb well into August.

Lillian Currens for Schaeffer’s Investment Research:

Apple stock just showed up on Schaeffer’s Senior Quantitative Analyst Rocky White’s list of the 25 S&P 500 (SPX) stocks with the best August returns, going back 10 years. According to this data, AAPL saw positive one-month returns 80% of the time, and averaged 7.2% jump during this time period. A similar move from its current perch could put the equity just below the $173 level — a region AAPL hasn’t touched since early April.
At the International Securities Exchange, Cboe Options Exchange, and NASDAQ OMX PHLX, the stock sports a 10-day put/call volume ratio of 1.04, which stands higher than 95% of readings from the past year. In other words, these players have been picking up puts at a much quicker-than-usual clip.
The equity’s Schaeffer’s put/call open interest ratio (SOIR) of 1.38 echoes this, as it sits higher than all other annual readings. This means short-term options traders are at their most put-biased in a year.

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The post Based on history, Apple stock could have another monumental month appeared first on MacDailyNews.
https://macdailynews.com/2022/08/02/based-on-history-apple-stock-could-have-another-monumental-month
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