AAPL really took it on the chin on Tuesday, as traders were apparently of the view that the most important feature of the next iPhone would be its name. I wrote up a trade using the NASDAQ OMX Alpha AAPL vs. SPY Index (AVSPY) options for TheStreet's Options Profits service, and the article got picked up for the free site and is featured on their main options page.
These new Alpha Index products aren't super-active, but a 3000-lot trade did go up yesterday, which I discuss in the article, and I'm told that NASDAQ OMX are gearing up for a big push to attract more volume and more customers. That's a good thing, because these relative value products really are useful and I hope they find an audience.
AVSPY: Using NASDAQ OMX Alpha Index Options to Trade Apple and the Market
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