No Juice Left in Apple?

Focus: OPTIONS

Mark Sebastian Image Mark Sebastian Blogger and Contributor, OptionPit.com

Apple has long been a favorite of day traders for its huge trading volumes, as well its zippiness, but Mark Sebastian of OptionPit.com notes that those days seem to be over, although Icahn's announcement of a large stake did juice it up 5% on Tuesday.

Over the last earnings of Apple, Inc. (AAPL), I was flabbergasted at how little AAPL IV moved both ahead and after earnings. The stock basically sat there spinning as IV dipped lower and lower into the earnings calls. Many traders (me included) got beat bad playing the earnings volatility ahead of the announcement.

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Livevol (r) www.livevol.com

After earnings, the stock continued to have NO movement in volatility. This makes little sense in a high flyer like AAPL...until I looked at stock and option volume numbers in the last few weeks.

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Volume numbers are getting completely crunched.