Apple, the tech titan, has caught the eye of financial giants partaking in a conspicuously bearish dance in its options market. An astute study of Apple’s options history reveals 68 peculiar trades that have set tongues wagging in the financial realm.
Deep-diving into the nitty-gritty, an analysis uncovers an intriguing scenario with 36% of traders cheering for bullish outcomes, while 41% are donning their bearish caps. What’s more, out of all the trades scrutinized, 13 are puts, with a total value of $1,230,050, and on the flip side, we have 55 calls with a hefty valuation of $3,957,417.
The Bullseye on Apple’s Price Targets
Scrutinizing the trading volumes and Open Interest, a recurring pattern emerges – the major market movers are laser-focused on a desirable price range for Apple, oscillating teasingly between $165.0 and $240.0, an arena that has kept investors at the edge of their seats for the past three months.
Deciphering Volume & Open Interest Trends
A peek into the volume and open interest provides pivotal insights for stock aficionados. This treasure trove of information proves instrumental in deciphering the liquidity levels and interest rates surrounding Apple’s options, particularly within a strike price spectrum ranging from $165.0 to $240.0 over the previous month.
Apple’s Options Roller Coaster: A 30-Day Voyage
Noteworthy Options Shenanigans:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AAPL | PUT | SWEEP | BEARISH | 09/20/24 | $3.7 | $3.6 | $3.7 | $225.00 | $665.8K | 22.1K | 2.9K |
| AAPL | CALL | SWEEP | BEARISH | 09/20/24 | $2.46 | $2.44 | $2.44 | $225.00 | $504.5K | 42.7K | 21.8K |
| AAPL | CALL | TRADE | BULLISH | 01/17/25 | $39.25 | $39.1 | $39.25 | $190.00 | $196.2K | 57.8K | 64 |
| AAPL | CALL | SWEEP | BULLISH | 01/17/25 | $23.15 | $22.95 | $23.15 | $210.00 | $166.6K | 25.0K | 185 |
| AAPL | CALL | TRADE | BULLISH | 09/20/24 | $4.6 | $4.55 | $4.6 | $220.00 | $106.7K | 58.8K | 5.6K |
Unfolding the Apple Tale
Apple stands tall as one of the globe’s premier companies, boasting an extensive repertoire of hardware and software offerings that cater to individuals and enterprises alike. The iconic iPhone serves as Apple’s flagship product, reigning supreme in the company’s revenue arsenal. Complementing this juggernaut are Apple’s other innovations like the Mac, iPad, and Watch, all orbiting around the iPhone within a sprawling software ecosystem. Apple has been on a relentless quest to introduce novel applications such as streaming video, subscription bundles, and augmented reality into its roster. The company prides itself on designing its software and semiconductors in-house while collaborating with key partners like Foxconn and TSMC for manufacturing its products and chips. Notably, a shade less than half of Apple’s revenue stems directly from its flagship stores, with the lion’s share generated through a web of partnerships and distribution channels.
Having meticulously probed the options marketplace dance around Apple, it’s now time to delve deeper into the company’s inner workings to shed light on its current market semblance and operational performance.
Apple’s Current Stance
- With a voluminous 35,417,754 transactions, AAPL’s price is currently down -0.16%, settling at $222.41.
- RSI indicators whisper tales of the stock teetering on the brink between neutrality, oscillating between overbought and oversold territories.
- The impending earnings call looms large, slated to grace our ears in a mere 48 days.
Evaluating the Analyst Chorus on Apple
A cohort of 5 seasoned analysts have lent their perspectives on this tech juggernaut in the recent 30-day span, collectively pegging an average price target of $274.4.
- A staunch advocate from Tigress Financial stands firm in their Strong Buy endorsement for Apple, anchoring a lofty target price of $295.
- JP Morgan’s steadfast assessment persists with an Overweight tag on Apple, maintaining a target price of $265.
- B of A Securities chimes in with its unswerving Buy call on Apple, anchoring the company’s prospects with a price target of $256.
- Another unwavering voice, Wedbush, maintains an Outperform rating on Apple, setting a gleaming target price of $300 in stone.
- And once more, B of A Securities reiterates its Buy stance on Apple, with the stock sailking towards a target price of $256.
Venturing into options trading can be akin to navigating treacherous waters, fraught with perils but brimming with prospects of lucrative gains. Astute traders deftly maneuver these tides through continuous learning, strategic maneuvers, a keen eye on various indicators, and an unwavering awareness of market dynamics. Stay abreast of the latest options market capers involving Apple with real-time notifications from Benzinga Pro.
