Judging by the fundamentals--things like revenue, earnings, assets, cash flow, profit margins, and growth--Apple had a very good year.However shares in the world’s most valuable company finished 2015 down 4% from the beginning of the year and off nearly 22% from their 52-week high.Why the disconnect?In my comment stream yesterday, a longtime reader who calls himself Merckel spoke for many frustrated shareholders when he boiled it down to six reasons: Heavy option activity. Institutions are content with making bank off of selling lotto tickets (options) to weekly gamblers. Approximately 90% of all Apple AAPL options expired worthless in 2015....