Dan Nathan Wants Protection In Apple

On CNBC's Options Action, Dan Nathan spoke about a recent decline in Apple Inc. AAPL. He thinks that it is unlikely that it is going to trade below $100, but the move toward that price level is possible. To protect a long position in Apple he wants to buy the January 110 put for $2.20 and sell the January 100 put for $1. He would have to pay $1 for $10 wide put spread.