Skip to content
Subscriber Only

Apple Bears Get Paid as Put Contracts Double Amid Drop

Updated on

For options trader Tim Biggam, yesterday was the day he was waiting for in shares of Apple Inc.

The iPhone maker’s minute-long swoon starting 20 minutes after trading began contributed to the biggest jump in the Chicago Board Options Exchanges Apple Volatility Index in two years. The stock plunged almost 5 percent during one 60-second stretch and at its lowest point was down 6.4 percent from the previous close, the largest retreat since January.