It recently occurred to me that there has been a serious lack of Apple news hitting the wires lately. What gives, Jobs? There used to be a new headline every day iPhone this, Nano redesign that, blah blah blah. But honestly, I think I've seen more Bill Gates coverage in the news this week. Is Apple lying low out of respect for Microsoft's (MSFT) new Zune offering? Or did Gates hire away Steve's publicist? Who knows; either way, I figured it was time to check in with America's favorite gadget-maker.
In so doing, I did run across one measly headline on Apple apparently, they're being sued for $1 million, though not by Dr. Evil. Anyway, Apple shares closed on a loss of 1.4%, even as the broader Nasdaq edged fractionally higher. Conversely, Microsoft shares gained nearly 1% but let's not get too excited; the stock is still wrestling with age-old resistance from the 30 level. Meanwhile, it looks like Apple might have run into some resistance from the 160 level, ever so slightly north of Microsoft territory. Apple also closed on a small loss yesterday after racing as high as 159.18 in intraday trading.
Meanwhile, it looks like Apple's Schaeffer's put/call open interest ratio (SOIR) is showing a hint of pessimism creeping in. The SOIR is resting at 0.96, as puts and calls are just about evenly represented among near-term options. (As recently as September 21, Apple's SOIR was just 0.81.) The 160 level is home to peak call open in interest in November, and is the second-most popular call in the front-month series. This accumulation of out-of-the-money call interest could account for Apple's difficulty with the 160 level.