Looking at the Apple Inc (AAPL) 3 month chart, I noticed that the 3 month timeline low is $78.20 (52 week low- January 20, 2009). At that point when AAPL reached the low of $78.20 NASDAQ was trading at 1440.86 since now NASDAQ is trading at 1377.86 and AAPL is trading at $89.31 I think AAPL will hold above $70.00 within the current month.
With that in mind, I am selling AAPL Mar 09 70 Puts. Again when selling options it is not where the underlying stock is going, it is where the underlying stock is not going.
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