Trade these options on Apple

Shares of Apple (AAPL) trade at 52-week highs right now just shy of $186/share, and the stock is up 42.7% YTD.  While the leading cell phone maker is is growing revenue, margins and free cash flow at a dizzying pace for a company as large as it is, we'd be buyers on a pull back vs buying shares today. Second half 2023 recession signals are still present, and we don't see the VIX staying below 15 for much longer. The tech sector has led the rally in 2023, and it will also fall the most when the upward momentum pauses.

We sold the AAPL August 2023 $165 Puts for $1.13, and believe this is a low-risk trade.  We will be buying shares should the stock drop below $165/share, otherwise our options will expire worthless in just over 2 months from now.