What the Options Market Tells Us About Apple
Apple Inc. AAPL | 258.20 257.68 | +1.15% -0.20% Pre |
Deep-pocketed investors have adopted a bearish approach towards Apple (NASDAQ:AAPL), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AAPL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 27 extraordinary options activities for Apple. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 48% bearish. Among these notable options, 8 are puts, totaling $387,928, and 19 are calls, amounting to $1,239,539.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $240.0 for Apple, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Apple's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Apple's whale trades within a strike price range from $100.0 to $240.0 in the last 30 days.
Apple 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AAPL | CALL | SWEEP | BULLISH | 01/17/25 | $7.45 | $7.35 | $7.45 | $230.00 | $312.0K | 30.6K | 487 |
| AAPL | CALL | TRADE | BULLISH | 03/21/25 | $130.0 | $129.6 | $130.0 | $100.00 | $117.0K | 489 | 24 |
| AAPL | CALL | SWEEP | BEARISH | 11/08/24 | $3.5 | $3.35 | $3.35 | $225.00 | $100.5K | 12.0K | 948 |
| AAPL | PUT | SWEEP | NEUTRAL | 12/06/24 | $5.15 | $5.05 | $5.1 | $230.00 | $91.7K | 972 | 189 |
| AAPL | CALL | SWEEP | BEARISH | 11/15/24 | $2.09 | $2.08 | $2.08 | $227.50 | $83.3K | 7.5K | 8.1K |
About Apple
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
Current Position of Apple
- With a trading volume of 14,296,721, the price of AAPL is down by -0.18%, reaching $227.07.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 83 days from now.
Professional Analyst Ratings for Apple
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $224.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Barclays has decided to maintain their Underweight rating on Apple, which currently sits at a price target of $184. * An analyst from Keybanc has revised its rating downward to Underweight, adjusting the price target to $200. * An analyst from Rosenblatt has decided to maintain their Buy rating on Apple, which currently sits at a price target of $262. * An analyst from Maxim Group persists with their Hold rating on Apple, maintaining a target price of $215. * An analyst from Needham downgraded its action to Buy with a price target of $260.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Apple options trades with real-time alerts from Benzinga Pro.
