These numbers are staggering — and painful — for Apple shareholders.
Since hitting a high of $133 in late February 2015, shares of Apple have fallen 26 percent, amounting to a market cap loss of more than $225 billion. That's more than the total market cap of 98 percent of companies in the S&P 500.
"It's pretty incredible that the $225 billion lost is more than the market cap for companies like Disney, Bank of America and JPMorgan Chase," Optimize Advisors co-founder Mike Khouw told CNBC's "Options Action."
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For those who lost money on Apple's fall, Khouw offered a simple options strategy to make some of it back: Buy a 1x2 call spread.
"One of the first things you are going to do when you are going to recover some of the money that you've lost is try to do it at little to no cost," Khouw said. "The next thing to consider is this is something you want to do in the short term, I typically try to look out about four months or less," he said Friday. "The last thing you want to do with this kind of strategy is choose an upper strike that is below where its previous highs were."