Financial analyst Bernie Schaeffer has written a report on stock options in today’s market. Apple is one of the stocks he writes about: “Apple Computer (AAPL) looks vulnerable from a technical perspective, as the shares have broken below their 10-day and 20-day moving averages and the 15 level. Options players have gravitated towards the September 15 strike, where 10,000 calls reside. With the security three percent below 15, Bernie’s risk-to-reward parameters are well defined.”