Volatility is still very much alive and well.

But you should be okay, especially if you took our suggestion to buy into some of our favorite volatility trades including:

iPath S&P 500 VIX Short-Term Futures (VXX)
ProShares Ultra VIX Short-Term Futures (UVXY)
VelocityShares Daily 2x VIX Short-Term ETN (TVIX)

All are headed even higher this morning after Apple stunk up the market, cutting sales guidance for the first time in 15 years.  All thanks to a drop in iPhone sales, China’s slowing economy and trade war tensions.

Investors and analysts alike aren’t too pleased with the news.

The one-time high-flier has sunk fast and could easily slip well under $110, near-term in our opinion once it breaks below $150 support.

Analysts at Jefferies downgraded the stock from a buy rating to a neutral rating, noting, “Biggest miss in years.  Apple’s business in China appears to be rapidly deteriorating.

Ouch.

“The bottom line is that were are late, but we can no longer recommend Apple,” says analysts at Macquarie, which also downgraded the stock to a neutral rating.

Bernstein analysts cut their Apple price target from $210 to $160.  Bank of America cut its target from $220 to $195.  Morgan Stanley just cut its target from $236 to $211.  JP Morgan cut from $266 to $228.  And Goldman Sachs cut from $182 to $140.

“Apple’s guidance cut confirms our negative view on demand in China that we have been flagging since late September … We are reducing our FY19 revenue estimate by 6% to $253bn and FY19 EPS By ~10% to $11.66. We are also reducing our 12-month price target to $140 based on a 12x P/E multiple (ex. cash ~10x) as we see the potential for further downside to FY19 numbers depending on the trajectory of Chinese demand in early 2019,” noted Goldman Sachs, as quoted by CNBC.

The list of analyst cuts goes on and on.  None are happy with the latest news.

And rightfully so….

Even after a big drop from $230 a share to $157, as of yesterday, there’s still plenty of downside ahead.  You can either short Apple here, or even buy to open the AAPL March 15, 2019 145 put.

Things could get even uglier – fast.