Apple’s share price reached a high of $705 in September 2012 when the iPhone 5 was released, but fell to $505 two months later. Some analysts claimed it could fall another 30 to 50% (to the $250-350 range). In December 2012 investors were advised on Yahoo Finance that: “ if you own a lot of APPL … it's time to lighten up your holdings or use some options protection.”
If you owned Apple shares at the time, what exactly, did that advice recommend that you should do?