iPhone Options and Market Rap on MA, ODP, TIF & AAPL (Blogging Stocks)

Filed under: Apple Inc (AAPL) , Tiffany and Co (TIF) , MasterCard Inc’A’ (MA) , Office Depot (ODP) , iPhone , Options Although markets tried to rally after last week’s selling, it didn’t last long. Overall markets moved lower. The NYSE had volume of 2.4 billion shares with 1,004 shares advancing while 2,281 declined for a loss of 41.62 points to close at 9,807.35. On the NASDAQ, 1.9 billion shares traded, 1,038 advanced and 2,008 declined for a loss of -11.88 to 2,577.08. MasterCard Incorporated (NYSE: MA ) fell $6.67 (-4%) to $161.76. Office Depot (NYSE: ODP ) fell $1.21 (-4%) to $32.28 hitting a low as retail stocks were weak. Tiffany & Co. (NYSE: TIF ) rose $2.02 (4%) to $52.00 on takeover speculation. Apple Computer (NASDAQ: AAPL ) saw heavy volume on the July 120 calls (QAAGD) with over 22,000 options trading today. Apple options have been heavily traded recently and that may be partially due to the pending iPhone release. Apple stock has been in a long term uptrend going from about $60 a share to $120 in the last year. Looking at a 5 year chart the stock has shot up from $7.50 a share in January 2003 to $122.34 today. That is a huge run-up and a successful launch of the iPhone could continue the exponential growth of Apple stock. Continue reading iPhone Options and Market Rap on MA, ODP, TIF & AAPL Permalink | Email this | Comments