Looking At Apple's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Apple AAPL.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AAPL, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 132 uncommon options trades for Apple.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 29%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $1,297,288, and 123 are calls, for a total amount of $8,116,346.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $195.0 to $255.0 for Apple over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $195.0 to $255.0 in the last 30 days.

Apple Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Having examined the options trading patterns of Apple, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Apple's Current Market Status

• Trading volume stands at 21,609,389, with AAPL's price up by 0.58%, positioned at $224.75.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 85 days.

Expert Opinions on Apple

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target 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. * Maintaining their stance, an analyst from Maxim Group continues to hold a Hold rating for Apple, targeting a price of $215. * In a cautious move, an analyst from Keybanc downgraded its rating to Underweight, setting a price target of $200. * An analyst from Barclays persists with their Underweight rating on Apple, maintaining a target price of $184. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Apple, targeting a price of $262. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $260.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Apple with Benzinga Pro for real-time alerts.