![]() When information is released, the information effect dominates the volume effect. “But there is another effect, the information effect, when fundamental news comes out. “Call options, by their nature, increase volatility because market makers have to hedge, which pushes the price up even more,” said Peng Cheng, a strategist at JPMorgan Chase. In turn, the value of many call options plummeted. A day later, the stock struck a new high while options trading intensified.īut a Bloomberg News report on Thursday saying Apple had warned suppliers of weakening demand for the iPhone 13 was enough to knock the euphoria, briefly sending Apple down more than 4 per cent. On Tuesday, the S&P 500 fell almost 2 per cent, while Apple gained more than 3 per cent without news that would serve as an apparent trigger.
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