The recent massive sell-off in Apple (NASDAQ:AAPL) stock has presented some interesting opportunities for low risk trades. For long time readers of my articles you may recognize that my portfolio usually contains an AAPL position.  Why? I cannot overemphasize the importance of trading liquid instruments and in the current world very few underlying issues have options with the degree of liquidity routinely available in a wide spectrum of strike prices and expiration dates.  What is the big deal about liquidity? When markets trade in an orderly fashion it is usually possible to negotiate a reasonable price for all but ...